Blog Entry

IRS looking at Frank McCourt

Posted on: April 20, 2011 6:51 pm
 

By Evan Brunell

Wednesday's been a bad day for Frank McCourt. Baseball is taking over Dodgers operations in an attempt to force McCourt out of the door, and TMZ is reporting that the Internal Revenue Service has eyes for McCourt.

The IRS is looking into the Dodgers owner thanks to disclosures that were made during the sordid divorce of McCourt and his wife, Jamie. McCourt is now in serious financial trouble after using the Dodgers to fund his lavish lifestyle and needing to settle around a $200-million figure he owes his ex-wife. MLB is sick of his actions and gambits to keep the team under control and now the IRS is poking around in his personal life, as is deserved. The IRS is curious why the McCourts could take $145 million from the Dodgers and yet pay no taxes.

In addition, McCourt personifies nepotism at its finest as his children draw hefty salaries -- of several hundred thousand dollars a head -- for doing exactly nothing. This is a classic case of the rich getting richer and abusing the system to do so.

Along with the IRS, the California Franchise Tax Board is also looking at the situation, so things portend to be very gloomy in the McCourts' fractured household for a while.

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Category: MLB
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