High court won't hear appeal from former Qwest CEO
National News
The Supreme Court won't hear an appeal from former Qwest Communications International Inc. CEO Joseph Nacchio seeking an $18 million tax refund on money he gained from illegal stock sales.
The justices on Monday left in place a lower court ruling that said the money was not tax deductible.
Nacchio was convicted in 2007 of selling $52 million in stock of Denver-based Qwest based on inside information. He was ordered to forfeit $44 million and to pay a $19 million fine. He also was sentenced to five years and 10 months in prison.
Nacchio claimed the $44 million he forfeited was deductible as a business expense or loss and that he should get a refund. A federal judge agreed, but a federal appeals court in Washington, D.C., overturned that ruling.
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Car Accident Lawyers in New Rochelle, New York
If you have gotten in a car accident, it could seriously change your life. Whether the accident was caused by the other party’s fault or a fault of your own, you’ll want to to make sure that you are ready to prepare yourself for any cases that might follow.
Immediately following any type of car accident, it is important to take certain steps to ensure that the courts will treat you with respect and fairly. First, assess your mental and physical condition. Make sure right after the accident, you document any information regarding the accident and situation, it can be of great help later on.
You’ll want to make sure that you seek professional help for any medical conditions you may be experiencing. Do not wait to seek medical attention, you’ll want to make sure that you have documented evidence of the injury that was caused by the accident. The amount of treatment is also taken into consideration in every case.