11th Circ. Says Big Spenders Willfully Evaded Tax Payment
Law360 (September 9, 2020, 8:45 PM EDT) -- The Eleventh Circuit found Wednesday that an ex-hedge fund manager and his wife can't use bankruptcy to escape a $3.8 million tax bill, saying they spent more than twice that on their lavish lifestyle while stalling the Internal Revenue Service with lowball settlement offers.
In a published opinion, the panel upheld lower court findings that Matthew and Kathleen Feshbach willfully avoided paying their 2001 income tax bill, saying the evidence showed that between 2001 and 2010, they spent $8.5 million on personal expenses and charitable donations while making "inadequate and unrealistic" settlement offers to the IRS.
"As will become evident, these two...
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