Warren Buffett’s Company Hasn’t Paid All Taxes Owed In Years, Media Mum
Two weeks ago, when billionaire Warren Buffett called for higher taxes on rich people like him, the liberal media predictably gushed and fawned. Yet when Americans for Better Government revealed last week that Buffett's company Berkshire Hathaway has been in an almost decade-long dispute with the IRS over how much taxes it owes, these same press members couldn't care less: According to Berkshire Hathaway’s own annual report — see Note 15 on pp. 54-56 — the company has been in a years-long dispute over its federal tax bills. According to the report, “We anticipate that we will resolve all adjustments proposed by the U.S. Internal Revenue Service (‘IRS’) for the 2002 through 2004 tax years at the IRS Appeals Division within the next 12 months. The IRS has completed its examination of our consolidated U.S. federal income tax returns for the 2005 and 2006 tax years and the proposed adjustments are currently being reviewed by the IRS Appeals Division process. The IRS is currently auditing our consolidated U.S. federal income tax returns for the 2007 through 2009 tax years.” Americans for Limited Government researcher Richard McCarty, who was alerted to the controversy by a federal government lawyer, said, “The company has been short-changing the tax collection agency for much of the past decade.
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on August 29, 2011. Filed under