Conrad Black gets $71M tax bill from IRS

In 2007, Lord Conrad Black was convicted by an Illinois U.S. District Court for diverting funds from Hollinger International, a newspaper media company, for personal use including corporate jets and a lavish NY apartment. His application for bail was rejected, and now the IRS wants $71 million in back taxes from Lord Black, including $120 million in unreported income from 1998 to 2003. Lord Black describes the IRS allegation as "sloppy and careless" and asked for this to be dismissed because he wasn't a U.S. resident at that time, therefore not required to pay taxes.

Lord Black issued a statement to the courts stating that he was a Canadian resident until 2001. However, the U.S. government says that because the alleged funds were from a U.S. source, his income is subject to U.S. taxes.

Your resource on tax filing
Tax season is here! Check out the Tax Center on AOL Finance for all the tips and tools you need to maximize your return.
What to Do After You've Filed an Income Tax Extension
No matter how or when you file your taxes, here's a guide to next steps.
Read MoreBrought to you byTurboTax.com
Child Tax Credit Calculator and Top 7 Requirements
The Child Tax Credit can significantly reduce your tax bill if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency and 7. family income. You and/or your child must pass all seven to claim this tax credit.
Read MoreBrought to you byTurboTax.com
7 Smart Ways to Invest Your Tax Refund
You can maximize your tax refund in several ways — from paying off high-interest debt to investing in a business or saving for retirement. One or more of these options could be the perfect fit for you.
Read MoreBrought to you byTurboTax.com
How to Pay Taxes: 10 Ways to Pay Your Tax Bill
You know you owe taxes, but you may not be aware of all the available options for getting that money to the IRS.
Read MoreBrought to you byTurboTax.com