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Tuesday, June 10, 2008

IRS Goes After Examiner Owner

Posted By on Tue, Jun 10, 2008 at 1:26 PM

The Wall Street Journal reports that the IRS is taking Philip Anschutz, owner of the San Francisco, Baltimore and Washington Examiners, and the San Francisco City Star, to court in an attempt to make him pay back taxes totaling $143.6 million.

Anschutz joins the ranks of executives from companies like Starbucks and Costco targeted in a "broad attempt by tax authorities to crack down on complex transactions used to defer paying capital-gains taxes." (If you would like to suss out what that actually means, read the WSJ article.)

As the Penninsula Press Club helpfully pointed out, Anschutz's troubles with the IRS have not been mentioned on the pages of any of his papers, nor has it been mentioned in the Chronicle, which Anschutz has been rumored to be interested in purchasing from Hearst. -Andy Wright

Photo Credit: Denver Post

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