IRS, Trust Agree to Disclosures as Part of $28 Million Tax Case

A family trust reached a limited agreement with the US government as part of a $27.8 million dispute with a businessman alleged to have used the trust to avoid taxes.

The two sides filed a stipulated consent order Thursday in the US District Court for the Southern District of Florida, where the government sued Burt Kroner and his Equity Trust Bahamas Ltd. to recover unpaid taxes between 2005 to 2007. Under the agreement, Equity Trust will provide the US with an accounting of assets and transfers dating back to 2023 and doesn’t need to file a response or make admissions ...