Tax News: New York Host Sentenced For Failure To File Returns, IRS Loses Case Against Arizona Broadcaster
June 22, 2016 at 3:59 AM (PT)
Longtime WMCA-A/NEW YORK host ZEV BRENNER has been sentenced to a year of probation and a $2,500 fine for failure to file tax returns, reports the NEW YORK DAILY NEWS.
BRENNER allegedly did not file tax forms from 2003 to 2011, but under a plea deal, he pleaded guilty only to not filing in 2009. He has paid $63,764 in restitution to the IRS thus far and could have been sentenced to up to a year in prison.
Meanwhile, the IRS lost another radio case in U.S. Tax Court, with that court ruling on remand that a deal after the 2001 sale of five stations by SLONE BROADCASTING to CITADEL that led to the sale of what was left of SLONE to another party did not make SLONE's principals liable for taxes remaining from the station sale. After selling KIIM, KHIT, KOAZ, KTUC-A, and KCUB-A/TUCSON to CITADEL for $45 million, SLONE was left with a $15 million tax liability; after paying one installment of $3.1 million, the SLONE REVOCABLE TRUST and SLONE GST TRUST, owners of the stock of SLONE, sold the company shell to BERLINETTA, INC., an entity created by FORTREND INTERNATIONAL, a company that bought companies with liabilities and was associated with bill collection agency MIDCOAST CREDIT CORP., for $35,753,000 and assumption of tax liability.
BERLINETTA, which merged with SLONE to become ARIZONA MEDIA, never paid its tax liability and dissolved, and the IRS went after the trusts and JIM and NORMA SLONE for the taxes. The court ruled that the sale was legitimate and relieved the SLONES, who the court decided did not have actual knowledge of FORTREND's plans to avoid paying taxes, and the trusts from liability.