{"id":342,"date":"2006-09-14T09:04:15","date_gmt":"2006-09-14T14:04:15","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/2006\/09\/14\/tyco-owes-irs-50-million-in-back-taxes\/"},"modified":"2012-04-30T21:34:49","modified_gmt":"2012-05-01T02:34:49","slug":"tyco-owes-irs-50-million-in-back-taxes","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/tyco-owes-irs-50-million-in-back-taxes\/","title":{"rendered":"Tyco Owes IRS $50 Million in Back Taxes"},"content":{"rendered":"<p>Tyco International Ltd. still owes the Internal Revenue Service $50 million in income taxes related to capital gains that were not reported in its 1999 federal tax return.<\/p>\n<p>The company&#8217;s former vice president of taxation, Raymond Scott Stevenson has been charged with filing a false corporate tax return, which underreported capital gains by $170 million. The IRS says that the income tax on the capital gains would add $50 million to Tyco&#8217;s 1999 tax bill.<\/p>\n<p>According to the U.S. Attorney&#8217;s Office in Southern Florida, Raymond Stevenson was the vice president of taxation for Tyco until 2003. In 1999, he initiated a series of transactions which reduced the company&#8217;s state tax liability. However, the same transactions created $170 million in federal capital gains, but Stevenson failed to report that amount on Tyco&#8217;s federal return.<\/p>\n<p>Stevenson has pleaded not guilty to the charge of tax fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tyco International Ltd. still owes the Internal Revenue Service $50 million in income taxes related to capital gains that were not reported in its 1999 federal tax return. The company&#8217;s former vice president of taxation, Raymond Scott Stevenson has been [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16],"tags":[1431],"class_list":["post-342","post","type-post","status-publish","format-standard","hentry","category-auditing-regulations","tag-tyco"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-5w","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=342"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/342\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}