BetOnSports Founder Gary Kaplan Assessed $36.5 Mil Tax Bill
BetOnSports founder Gary Kaplan will have to pay $36.5 million to the IRS after losing an appeal.
Kaplan’s attorneys initially argued double jeopardy as he was already ordered to pay the US government $44 million after having served a 51-month prison sentence.
From CalvinAyre.com:
Naturally, Kaplan contested that decision, arguing that as part of his settlement, no further charges could be brought against him, not to mention these IRS charges amounted to double jeopardy or preclusion by judicial estoppel. So the matter was taken up to the US Tax Court and last week, the court – finally – announced its decision.
No soup for you, Mr. Kaplan!
According to the court, Kaplan’s plea agreement also included a clause that essentially didn’t prohibit Uncle Sam from taking any “civil, civil tax, or administrative action against the taxpayer” and that the IRS’ beef with Kaplan was his failure to pay his civil taxes.
The BetOnSports.com domain name was recently purchased back by Kaplan’s attorney.
Kaplan could still be placed on an installment plan that allows him to pay just over $6 million per year for six years.
- Gilbert Horowitz, Gambling911.com
