Because taxes can significantly impact the economy by changing the cash flow available to both individuals and businesses, a presidential candidate’s view on taxes has become an increasingly hot topic during the past several election seasons. Each presidential candidate’s view on tax policy is different. Some candidates weigh heavily on the standpoint that tax money [...]

Mitt Romney released his tax returns on January 24th, 2012. His 2010 earnings showed $21.7 million in income with an effective tax rate of just 14%. Newt Gingrich shared his tax return last week and his tax rate came in around 31%. Why is Romney’s Tax Rate so low? Unlike Newt, Romney’s income mostly comes [...]

Newt Gingrich shared his 2010 tax returns on his website on January 19th, 2012. Newt and his wife, Callista, filed a joint tax return with an adjusted gross income of $3.14 million. They paid a total of $994,708 in income taxes. According to the tax returns, Callista was paid $191,827 in W-2 wages in 2010 [...]

As if Lindsay Lohan hasn’t had enough negative publicity lately, she has now been hit with an IRS tax lien. According to official documents filed in Los Angeles County, the actress failed to pay $93,701.57 in federal income taxes back in 2009. Sources for Lohan told TMZ that the 25-year-old had no knowledge of her [...]

Record producer, songwriter and rapper Jermaine Dupri (also known as “JD”) has finally paid off his back taxes from 2007 – but at a cost nearly twice the amount of the initial tax lien filed against him, according to TMZ. JD’s original tax bill totaled $254,782.64. However, Georgia records show that late fees, penalties and [...]

The IRS has filed a $258,017 tax lien against Redskins wideout Santana Moss. The lien comes as a result of more than $250k in taxes that the 11-year NFL veteran neglected to pay back in 2006, despite his earning more than $1.9 million that year. The Detroit News reports that the tax lien was filed [...]

The IRS has reportedly filed a tax lien against rapper Bow Wow in the state of Florida. According to TMZ, the 24-year-old, whose real name is Shad Gregory Moss, owes $91,105.61 in unpaid taxes from 2006. Bow Wow, who has been criticized lately for pushing back the release of his upcoming album, Underrated, claims that [...]

Kim Kardashian captured the nation’s attention last week when she filed for divorce from Kris Humphries – citing irreconcilable differences – after only 72 days of marriage. Although it appears that the couple may now be attempting to save their marriage through counseling, it does not seem all too promising. For most couples, divorce is [...]

It’s becoming a question of whether celebs go on the hit ABC show Dancing with the Stars because they are struggling financially, or if the stars’ tax woes arise as part of some sort of DWTS curse. According to The Detroit News, Kelly Monaco is the latest Dancing with the Stars alumn to have a tax [...]

One million dollars! Its a sexy number. $1,000,000. It’s nice to look at. It’s fun to say. America is gearing up to crown its latest member to the esteemed millionaire club on the Wednesday night season finale of America’s Got Talent. That is, if we are to believe what the promotions are telling us. But [...]