October 30, 2020, 08:38:25 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News: NEW CHILD BOARD CREATED IN THE POLITICAL SECTION FOR THE 2016 ELECTION
 
   Home   Help Login Register  
Pages: 1   Go Down
  Print  
Author Topic: "IRS says ‘tax avoidance’ at heart of Solyndra bankruptcy plan"  (Read 748 times)
0 Members and 1 Guest are viewing this topic.
WhiskeyGirl
Monkey All Star Jr.
****
Offline Offline

Posts: 7754



« on: October 11, 2012, 01:44:22 PM »

Don't these folks want to pay taxes?  Pay their fair share?  Give half a billion dollars back to taxpayers? 

Quote
What’s more, government attorneys said that as far back as 2010, Solyndra owners had “planned meticulously” to be able to use Solyndra’s net operating losses to offset future tax liabilities.

“The only reason for the shell corporation to exist post-confirmation is to enable its owners to exploit these tax attributes, which would be lost in liquidation,” the IRS argued in court papers.

One owner valued the so-called tax attributes at $150 million, dwarfing the $7 million to $8 million set aside by the reorganization plan for unsecured creditors, according to the government’s objection, which was filed by the Justice Department on behalf of the IRS

...

But the IRS said in court papers that there was little reason for the shell company to exist other than to help the owners avoid taxes. Argonaut is the investment arm of a family foundation headed by Oklahoma businessman George Kaiser, a fundraiser for Barack Obama’s 2008 presidential campaign. Madrone has ties to the family that owns Wal-Mart Stores Inc.

read more here - http://www.washingtontimes.com/news/2012/oct/10/irs-says-tax-avoidance-heart-solyndra-bankruptcy-p/

Walmart family and George Kaiser need more tax loopholes? 

I wonder how many 'tax avoidance' bonuses/sweepstakes were given away in bankruptcy court under Obama's watch?

'Rich people need to pay more' or 'Rich people need to pay their fair share'
Logged

All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
Pages: 1   Go Up
  Print  
 
Jump to:  

Use of this web site in any manner signifies unconditional acceptance, without exception, of our terms of use.
Powered by SMF 1.1.13 | SMF © 2006-2011, Simple Machines LLC
 
Page created in 6.096 seconds with 19 queries.