IRS Seeks Record $2 Billion in Back Taxes From Prominent Philanthropist

They say you don't get rich by writing a lot of checks. And if you believe the IRS, failing to pay billions in federal taxes may explain how two brothers and Texas businessmen amassed a fortune worthy of landing them among the Forbes 400 Richest Americans.

Sam Wyly, who along with his now-deceased brother, Charles, rose from meager beginnings to an estimated net worth in excess of $1 billion, now owes the IRS more than twice that amount—a reported $2.03 billion—in back taxes, penalties and interest.

How does one accumulate a tax debt in excess of the GDP of Saint Lucia?