Short Arms?

摘要

The Internal Revenue Service says that Morton L. Topfer, one of FORBES ASAP's Tech's 100 Highest Rollers when he served as Dell vice chair-rnman, owes $65 million in gift taxes and penalties for undervaluing asset trans-fers benefiting his heirs. Topfer, 71, is fighting the bill in U.S. Tax Court. The feds say that in 2002 and 2003 he put $105 million of cash and stock into trusts for his children and grandchil-I dren but valued the largesse at a mere $3.5 million. Among the dealings that the IRS nixed on grounds of "no business purpose": option trades between Topfer and the various trusts. Courtrnfilings for Topfer, who retired from Dell and now sits on the board of chipmaker AMD while running a family investment firm in Austin, Tex., defend the complicated dealings as "bona fide, arms-length transactions."