IRS billing cabler Dolan for $ 233 mil

The Internal Revenue Service is seeking $ 233 million in back taxes and penalties it claims is owed by Charles Dolan, chieftain of Cablevision Systems Corp., the eighth-largest cable MSO in the country.

The IRS issued the assessment against Dolan in September.

Dolan refused payment and appealed the case to the U.S. Tax Court. A trial date has not been set.

The IRS claims Dolan in 1984 received interests in Cablevision that he should have reported as income. The agency also claims that in 1986, Dolan failed to report income from the sale of private cable limited partnerships to the public company.

Bruce Haims, a New York-based attorney who represents Dolan, said “the fact is he (Dolan) didn’t receive income in 1984. In 1986, anything he sold he reported as income.”

The IRS case involves allegations against Dolan personally, and not against Cablevision.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety