BUZZ WORDS: KKK DROM | CACTUS CAFE | STUDENT COV
  IRS sues McCombs for $45 million
Getty Images

IRS sues McCombs for $45 million

By Tiffany Tso
Category:Local

Published: Thu, July 29, 2010

Updated: Thu, July 29, 2010


Getty Images

The Internal Revenue Service is suing Billy Joe "Red" McCombs, namesake for UT's business school. The IRS claims McCombs owes $45 million in taxes from when he sold shares of Clear Channel Communications back in 2002.

McCombs claims that by law too much time has passed for the IRS to initiate legal proceedings on the matter.

Tuesday, McCombs announced his investment in Formula 1 racetrack. According to Forbes magazine, McCombs' net worth is $1.7 billion

Comments

Connect

0 comments so far




Got something to say?

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.
 

CATEGORIES

yootee

Classifieds | Terms & Conditions | Contact Us | UT Textbooks
Copyright 2009-2010 Yootee Media, Inc.