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“The company is among the UK’s biggest names and its premium quality customer offering fits perfectly with our industry-leading portfolio. The lawyer purportedly detailed that daily fantasy sports operators could furthermore be hit with late payment penalties for taxes they didn’t previously pay.Considerable consequences:Kate Lowenhar-Fisher from the Nevada law firm of Dickinson Wright reportedly told Bloomberg that such a state of affairs could be ‘potentially business-destroying’ in some jurisdictions as it would equate to a hefty 20% tax on revenues....
Defective approach:Jason Robins, Chief Executive Officer for DraftKings Incorporated, reportedly used a Friday conference call with investors to proclaim that the IRS is ‘deeply flawed in its analysis’ of what actually constitutes a sportsbetting wager and that its latest stance will not be binding in court should”Litigious lifeline:However, Bloomberg reported that the IRS’ latest stance on daily fantasy sports is at odds with the 2007 ruling from the United States District Court for the District of New Jersey in the matter of Humphrey v Viacom. The lawyer purportedly detailed that daily fantasy sports operators could furthermore be hit with late payment penalties for taxes they didn’t previously pay....
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