IRS hits Sam Wyly, late brother's estate with $3 billion tax bill

April 16, 2015 11:58 PM

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IRS hits Sam Wyly, late brother's estate with $3 billion tax bill

The Internal Revenue Service has billed Sam Wyly and the estate of Charles Wyly for more than $3 billion in back taxes, penalties and interest from trusts the Dallas brothers established in the Isle of Man more than two decades ago.

In court documents filed late Wednesday in U.S. Bankruptcy Court in Dallas, the IRS claims that Sam Wyly owes $2.03 billion as a result of unpaid income taxes between 1992 and 2010 and more than $8.9 million from unpaid taxes during the past three years.

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