Law360, New York (August 26, 2014, 6:56 PM EDT) -- The Tenth Circuit on Tuesday affirmed that the former CEO of cable television company FrontierVision Partners LP cannot discharge a $14.3 million tax liability through his Chapter 11 bankruptcy because he filed a fraudulent tax return and tried to evade his taxes.
According to the opinion, James Charles Vaughn decided in 1999 to enter a tax-avoidance transaction allegedly marketed by KPMG LLP to avoid paying taxes on a $31 million windfall he received after his company was purchased by Adelphia Communications Corp. The Internal Revenue Service assessed a deficiency against Vaughn, and when he later filed for bankruptcy, he argued the...
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