Unhappy endings don’t always involve punching or spitting for Bill Romanowski

Bill Romanowski, ex-Denver Broncos LB, owes $5 million, tax court says
www.denverpost.com

A federal judge has ruled that ex-Denver Broncos linebacker Bill Romanowski is on the hook for about $5 million in back-taxes stemming from a horse-breeding scheme he says he got caught up in.  The U.S. Tax Court decision last week found Romanowski, his wife Jill and a business they created in 2003 to invest in a Kentucky-based horse breeder wrongly took deductions dating back to 1998.

The deductions were related to more than $13 million the Romanowskis borrowed to invest in a breeding operation called ClassicStar. The company eventually went bankrupt and its principals were convicted of federal tax fraud. The Romanowskis deducted some of their losses as business losses.

I’m glad we had this talk.  Now, vaya con Dios, Brah.

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