WINSTON-SALEM, N.C. — PTL's trustee will take action to recover what the Internal Revenue Service says is $9.36 million in excessive compensation paid to Jim and Tammy Bakker, an attorney for the television ministry's trustee said Friday.
R. Bradford Leggett, an attorney in Winston-Salem, said he and David W. Clark, the ministry's Chapter 11 bankruptcy trustee, are conducting their own investigation of the excessive payments.
The IRS filed reports on excessive compensation Dec. 16 in U.S. Bankruptcy Court to support its argument for revocation of PTL's tax-exempt status. The IRS contends that PTL owes $62 million or more in taxes from June, 1983, to June, 1987.
The IRS filing, reported by the Winston-Salem Journal, said top PTL officials received $14.86 million in excessive compensation between 1981 and 1987, of which $9.36 million went to the Bakkers.