WebCPA reports that our pal Joe Francis - the shaper of young teenage minds and other stuff - is being forced into bankruptcy by a whopping $34 million IRS lien:
[The] CEO of the company that produces the racy “Girls Gone Wild” video series, is in trouble with the IRS again only weeks after a judge sentenced him to time served for tax evasion charges.
The IRS filed the lien for three years of back taxes, from 2001 to 2003, totaling $33,819,087.14. “This is total retaliation for beating them in court,” he told TMZ.com. He plans to file for personal bankruptcy.
Francis pleaded guilty last month to two misdemeanor counts of filing false tax returns. After a judge approved his plea deal earlier this month, Francis agreed to pay restitution, back taxes and interest totaling $249,705, plus a fine of $10,000, and he was sentenced to time served. He served 301 days in jail between June 2007 and March 2008.
If this guy’s tax bill is $34 million he must have earned at least 3 times that amount in 2001, 2002, and 2003. That’s a lot of drunk coeds, folks.
Of course, Francis’ tax tab includes interest and penalties so we can’t know for sure exactly what the tax portion of the lien is. But whatever it is, it’s large and means there is no shortage of barely post-pubescent, nubile nymphs who are willing to get obliterated and engage in all sorts of on-camera naughtiness.
Daddies do you know what your daughters are doing?
And if Francis thinks that the only reason the IRS has liened him is in retaliation for beating them in criminal court, why doesn’t he challenge the bogus tax assessment in federal court? It should be an easy case for him to win and would allow him to avoid bankruptcy. If he can prove that the IRS assessment is merely retaliatory he could sue the government for up to $1 million and recover all of his attorney’s fees.
Make the IRS your bitch, Joe. You know how to do that.
Related Posts:
- IRS Whistleblower Set Me Up Says Girls Gone Wild Founder Joe Francis
- Will Judge Go Mild on Girls Gone Wild Owner Joe Francis
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1 Joe Francis Sues IRS For Wrongful Collection Action // Dec 28, 2009 at 8:15 pm
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