Hunt family vs. IRS

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Hunt family vs. IRS - The attack on Kerr, who often tried drug cases...
The attack on Kerr, who often tried drug cases in Wood's court, took place just six months before and six blocks away from where the judge was killed. federal prison atLeavenworth, Kan. and flee to the Orient Mrs Chagra spent two tearful days denying the allegation, contending, "I am not guilty of this crime." Hunt family vs. IRS in big tax battle WASHTNCTHN ( AT-M . Tf ic a KofHo n t *v,~ *;»~— _:n: _/• n __• _ . .. .. . WASHINGTON <AP) - It is a battle of the titans, pitting one of the nation's wealthiest families against the steely eyed tax collectors of the Internal Revenue Service. In th'e past four years, the Hunts have filed 22 lawsuits contesting IRS attempts to collect more than S283 million in back taxes, according to court records. In the most recent round of what the IRS'calls one of the largest individual tax disputes in U.S. history, the government ordered the Hunts and their businesses to ante up more than $200 million. The IRS has challenged the personal income tax returns of the three Hunt brothers — Nelson Bunker Hunt, W. Herbert Hunt and Lamar Hunt - every year from 1974 through 1980. The agency also has challenged taxes paid by family-owned oil companies for 1972 through 5 But the family's tax problems have multiplied in recent years The largest dispute centers on deductions claimed by Bunker Hunt for transactions made in the first four months of 1980 during the family's roller-coaster speculation on the silver futures market the Times Herald reported. By the begining of 1980, the Hunts had amassed more than 195 million ounces of silver, more than half the nation's reserves. According the Securities and Exchange Commission, 21 Hunt family members and companies traded silver during the fall and winter of 1979-1980 During that period, the Hunts made and lost a $9.8 billion silver fortune. Also during that same period, Bunker Hunt transferred nearly $150 million to three of his children and two of their spouses tax records show. RATES LINER 3Linei— 1 3 Lines — 3 Ads exceeding S6.72 per column Commercial SPECIAL FREEBEES - Ads week. Limit one od REAL CHEAP Lines-10 Doys-S6.00 ods. No pets or WHEELS DE AL _ 3 motorcycles. RV s. B1G-M COVERAGE next issues of THE with o combined

Clipped from
  1. The Galveston Daily News,
  2. 16 Feb 1985, Sat,
  3. Page 33

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