Lottery's IRS penalties reversed thanks to NLR attorney - KATV - Breaking News, Weather and Razorback Sports

Lottery's IRS penalties reversed thanks to NLR attorney

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(left to right) Carrold Ray, Bruce Engstrom, Sam Hilburn (photo courtesy Ark Lottery Commission) (left to right) Carrold Ray, Bruce Engstrom, Sam Hilburn (photo courtesy Ark Lottery Commission)

LITTLE ROCK - The Arkansas Lottery Commission's 2011 tax penalties have been reversed, thanks to the pro-bono efforts of a North Little Rock attorney.

After hearing the Lottery had been assessed federal tax penalties in 2011, Carrold E. Ray, Jr., volunteered his time to help. He explained that his two daughters were recipients of the Arkansas Scholarship Lottery-funded Arkansas Academic Challenge Scholarships, so he wanted to give back to an agency that was helping his family.

At the Monday meeting of the Arkansas Lottery Commission, Chairman Ben Pickard of Searcy recognized Ray and announced that his work had led to an agreement with the Internal Revenue Service to refund $104,570 to the Lottery next month.

"We are grateful for Mr. Ray's generous sacrifice of his time and effort, and for his excellent work, pro bono, in behalf of the Arkansas Scholarship Lottery.  We could not have accomplished a successful outcome without him," said Pickard. "Not only did the agency avoid what would have been prohibitive legal fees to deal with this complicated IRS matter, the students of Arkansas will soon realize about $100,000 in their scholarship fund that would not have returned without Mr. Ray's expertise and  his 18-month conversation with the IRS in pursuit of this positive solution."

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