RumRiverRat Posted July 22, 2013 Share Posted July 22, 2013 Apparently when penny pincher Carl transferred his ownership stake in the Twins to his kids he severely undervalued his stake at 24 million.From Forbes,Quote:according to a previously unreported lawsuit filed by Pohlad’s estate in U.S. Tax Court last month, it valued his Twins stake as just $24 million for tax purposes. IRS auditors disagreed, pegging it at $293 million and slapping his estate with $121 million in extra taxes for the team, plus a $48 million (40%) penalty for gross valuation misstatement.” $24 million ... $293 million … those are rounding errors.Maybe Mauer can forfeit some of his absurd salary to help the billionaires out. Quote Link to comment Share on other sites More sharing options...
DrJill Posted July 23, 2013 Share Posted July 23, 2013 The red flag might have been he'd paid 38 million for the team in 1984.I can promise my family I won't leave them problems like this, Rest easy kids. And, I don't blame "The Pohlads". Just Carl. Quote Link to comment Share on other sites More sharing options...
Kyhl Posted August 2, 2013 Share Posted August 2, 2013 Maybe Carl used the expected future value after the team loses 90+ games for the third year in a row and the M&M boys have been traded away. Quote Link to comment Share on other sites More sharing options...
harvey lee Posted August 2, 2013 Share Posted August 2, 2013 That's how they get the money they have. Make a few here, beat the Gov out of a few there. Quote Link to comment Share on other sites More sharing options...
James_R Posted August 2, 2013 Share Posted August 2, 2013 As our states top DFL and DNC fundraisers; the Pohlads are going to end up paying a much reduced penalty than what is currently being sought by the IRS. 2-3 years from now buried on page 13 of the strib will be a statement regarding a $3 million settlement between the government and the Pohlads. Quote Link to comment Share on other sites More sharing options...
zamboni Posted August 8, 2013 Share Posted August 8, 2013 That's how they get the money they have. Make a few here, beat the Gov out of a few there. That's what makes them billionaires. You don't make a couple billion without knowing how to cut some corners. I owed the government about $1500 for some college loans, they found that in a heartbeat. Quote Link to comment Share on other sites More sharing options...
CaptainMusky Posted August 9, 2013 Share Posted August 9, 2013 The pathetic part is if you or I owed the IRS $5000 we would have to pay every penny but folks like this get off paying a small fraction. Quote Link to comment Share on other sites More sharing options...
corncob Posted August 9, 2013 Share Posted August 9, 2013 I'm for more tax breaks for these wealthy job providers.....I mean, we would have a shrinking middle class if it weren't for them....Oh, that's right , we do have a shrinking middle class!....Hmmm! Quote Link to comment Share on other sites More sharing options...
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