Michael Saylor, a prominent Bitcoin advocate, and his company, MicroStrategy, have agreed to a $40 million settlement with the District of Columbia to resolve tax evasion charges. The DC Attorney General accused Saylor of illegally avoiding taxes on hundreds of millions of dollars of income by falsely claiming residency in lower-tax states while living in Washington, DC. Despite denying the allegations, Saylor agreed to the settlement to avoid prolonged litigation. The case highlights ongoing efforts to enforce tax compliance among wealthy individuals and corporations.
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