{"id":12653,"date":"2025-10-20T18:54:08","date_gmt":"2025-10-20T18:54:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/12653\/"},"modified":"2025-10-20T18:54:08","modified_gmt":"2025-10-20T18:54:08","slug":"texas-e-commerce-exec-fights-tax-penalties-from-sale-of-business","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/12653\/","title":{"rendered":"Texas E-Commerce Exec Fights Tax Penalties From Sale of Business"},"content":{"rendered":"<p>A Texas technology executive says the IRS wrongly determined he and his wife underpaid taxes resulting in a $7 million joint tax bill. <\/p>\n<p>Jeffrey and Loyd Zisk petitioned the US Tax Court to contest the IRS notice of determination for their 2021 tax year, which says the couple must pay $5.9 million in taxes and $1.2 million in penalties over the sale of Snowfall Technologies Inc. <\/p>\n<p>The Dallas-based couple said the IRS increased their Schedule D long-term capital gain by about $29.2 million that year, resulting in the higher tax deficiency, according to the Oct. 10 filing. <\/p>\n<p>An IRS notice &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"A Texas technology executive says the IRS wrongly determined he and his wife underpaid taxes resulting in a&hellip;\n","protected":false},"author":2,"featured_media":12654,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[10640,10641,10638,10642,8017,10639,27,29,28,10644,10643],"class_list":["post-12653","post","type-post","status-publish","format-standard","has-post-thumbnail","category-texas","tag-business-entity-termination","tag-capital-gains","tag-corporate-officers","tag-federal-tax","tag-notice","tag-tax-penalties","tag-texas","tag-texas-headlines","tag-texas-news","tag-underpayment-of-tax","tag-understatement-of-income-tax"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/12653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=12653"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/12653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/12654"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=12653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=12653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=12653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}