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Republican Senator Jim Justice (WV) to pay $5m in back taxes following government lawsuit regarding funds due since 2009

essentialsaltes

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Lawsuit filed in West Virginia maintained that Justice and his wife received notice of the funds due since 2009 but didn’t pay

The lawsuit, filed Monday in federal court in their home state of West Virginia, maintained that the Justices had received notice from the US treasury department of the funds due since 2009 but had “neglected or refused to make full payment of those assessments”.

A separate filing later on Monday said the US justice department had struck a settlement with the political couple, who agreed to satisfy the full amount “plus statutory interest and other additions to tax accruing thereafter”. The agreement was pending a judge’s approval.

[Justice] had previously sought to dismiss as political attacks attempts to collect on financial debts for which he was on the hook.
 

FenderTL5

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I can only shake my head in bewilderment.

From elsewhere:
"Justice had a fortune estimated at $1.9 billion last decade by Forbes magazine, which stripped his billionaire title in 2021, when Justice's worth had dwindled to an estimated $513 million. Earlier this year, Forbes estimated that Justice’s net worth had disintegrated to “less than zero” due to liabilities that far exceeded assets."
I wonder how he agrees to pay the settlement when his assets are "less than zero?"

By my math this has been allowed to go on for ~15 years.
I wonder if a middle class family not paying taxes on the 401K they partially cashed-in to pay medical bills would be allowed to wait this long to "agree" to pay?
 
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FenderTL5

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Does the $5 million include penalties and interest? They should.
The articles say, "plus statutory interest and other additions to tax accruing thereafter.."
I'm not certain exactly what that means but it appears some interest is being applied but I don't see a specific mention concerning the penalties that should also be applicable.
 
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