MicroStrategy and Michael Saylor settle tax case for $40M
In August 2022, Michael Saylor faced allegations of tax evasion. He has since reportedly made the largest income tax fraud settlement in the history of the District of Columbia.
The technology firm MicroStrategy and its pro-Bitcoin founder, Michael Saylor, agreed to a $40 million deal to end a lawsuit accusing him of evading income tax.
The New York Times reported on June 3 that the attorney general for the District of Columbia has reached a $40 million settlement with Saylor and his software company, MicroStrategy.
According to the report, local officials assessed the agreement as the “biggest-ever income tax fraud recovery” in the district. It is reportedly the first lawsuit under the district’s amended False Claims Act, which encourages whistleblowers to file tax evasion claims against residents allegedly hiding residence information.
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Author: Helen Partz
