Trip Hawkins vs. the IRS

March 28, 2011 -

Trip Hawkins, a founder of EA and the CEO of social and mobile game maker Digital Chocolate apparently owes the Internal Revenue Service $20 million. According to a Forbes report, Hawkins tried to use a personal bankruptcy to nullify the debt but a judge rejected it. U.S. District Court judge Jeffrey S. White upheld a lower bankruptcy court ruling related to tax shelters Hawkins has used to hide the personal wealth he gained from founding Electronic Arts nearly three decades ago.

Judge White said in his ruling that Hawkins knew he was insolvent after the IRS disallowed his tax shelters but "continued to spend money extravagantly with knowledge of his (federal and state) tax liabilities." The judge added that "Hawkins planned to defeat his taxes via bankruptcy and continue living the lifestyle to which he had grown accustomed."

You can read a decent accounting of Hawkins' case on VentureBeat. The short story is that, according to Forbes, Hawkins went out of his way to avoid paying his IRS debt and paid very little of it down while still living an extravagant lifestyle.

Source: VentureBeat


Comments

Re: Trip Hawkins vs. the IRS

Well I guess Trip... *dons sunglasses* Is gonna have a nice fall.

Re: Trip Hawkins vs. the IRS

Well, I guess that explains a few things. Namely, that retarded online pass.

"Power means nothing without honor and pride."

http://grifsgamereviews.blogspot.com My video game review site.

Forgot your password?
Username :
Password :

Poll

How do you feel about microtransactions in $60 video games?:

Shout box

You're not permitted to post shouts.
RedMageOh hey, a news station is trying to scapegoat gaming. That takes me back. https://twitter.com/GamingAnarchist/status/63754361236507443208/29/2015 - 1:40pm
Big PermA link to TB twitter with Matt Lees in the replies - https://twitter.com/Totalbiscuit/status/52528604482949939208/29/2015 - 12:16pm
Brad GlasgowWhy would he say the company lies about getting abuse? Oh, because people don't abuse GG?08/29/2015 - 10:38am
Big PermBrad - Matt Lees was also quick to say the company "Gamers Gate" lies about getting abusive messages thinking they were an official GG channel08/29/2015 - 9:11am
Goth_SkunkMGSV: The Phantom Integrity - A Rant by RazörFist. (NSFW on account of language). RazörFist discusses the latest batch of unethical journalist conduct, with a caveat. - http://ow.ly/RwXYT08/29/2015 - 7:10am
Goth_Skunk@Brad: I can.08/29/2015 - 6:13am
Goth_SkunkI assume "Stacy" is a pseudonym. After reading what she went through, I would not be one bit surprised if it is.08/29/2015 - 6:13am
Goth_SkunkA Year of #GamerGate: From Neutral To Anti To Neutral To Pro by "Stacy" - http://ow.ly/RwVeT08/29/2015 - 6:12am
Brad GlasgowI can't believe Matt Lees deleted his positive review of Ethan Carter because Chmielarz is sympathetic to GG.08/29/2015 - 5:30am
Goth_SkunkA GameDev's Year With #GG: The Good, The Bad, and The Ugly by Adrian Chmielarz - http://ow.ly/RwSCd08/29/2015 - 5:18am
Goth_SkunkDespite not being a fan of fighting games I had to check out that R Mika trailer. Loved it. Still won't buy the game though, on account of Isuckatstreetfighteritis.08/29/2015 - 2:42am
MechaCrashI use a Dynex DX-840 headset, but it's discontinued. :( I wanted a mono headset so I could keep the other ear free for my speakers, but it has the bonus of being very light and comfortable, so you don't notice it.08/29/2015 - 12:41am
Big PermSora - I was just having a slow day at work earlier. Now I'm home with vidya!08/28/2015 - 7:54pm
ZippyDSMleeSora-Chan: Blender is easy compared to 3Dmax :P08/28/2015 - 6:51pm
Sora-Chantime to take up a hobby? maybe messing around in GIMP to make wallpapers? use qCAD to design somethin? open Blender and stare at it for a couple hours trying to figure what does what?08/28/2015 - 6:41pm
Big PermAlso, yes. I've been spamming the shoutbox. I don't have much going on today, don't judge me08/28/2015 - 3:25pm
Big PermThanks, but yeah. Not sure I wanna drop that kind of cash :P I don't even mind the sound quality of my krakens, it just hurts to wear em after a couple hours.08/28/2015 - 3:25pm
Sora-Chan@Big Perm: I'm a bit of a fan of the Omega Recon3D headset from SoundBlaster. Though it is a bit expensive.08/28/2015 - 2:36pm
Big PermI actually need to look into a new headset. I have those green razer krakens and I would not suggest them. Though maybe they're better for people without glasses08/28/2015 - 11:32am
Big PermI've never heard if Apple was dominant in Japan.08/28/2015 - 11:25am

Be Heard - Contact Your Politician