Constantly in the limelight, Khloe has been spotted spending thousands on shopping trips down Ocean Drive, hosting outrageous late night parties, and wining and dining at the finest restaurants. There were even reports that her present to Lamar for the LA win was a $400,000 Rolls Royce, to which she claims against. Regardless, money has never appeared to ever be an issue for Mrs. Kardashian, or Mrs. Kardashian Odom to be exact.

So what’s the problem? According to Access Hollywood, the State of California filed a tax lien against Khloe on July 28, 2010, for a total of just under $18.5 thousand dollars. The amount stems from unpaid back taxes and their consequential penalties and interest, which date back to 2007.

Apparently Khloe has paid the lien, or actually, paid the lien a long time ago, but her accountant never filed it. With a new accountant at her disposal, the lien has reportedly been paid off, and it’s only a matter of time before Khloe’s name gets cleared, or so she claims.

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2. Joe “Girls Gone Wild” Francis is Suing the IRS
3. More than 50% of Americans Pay Taxes – Just Not Federal Income Tax

What’s Tucker to do?  I’m not sure how well stand up comedy gigs pay, and unless Tucker makes his way back into Hollywood soon, he could have a hard time getting the money back to the IRS. To his credit, he is reportedly attempting to sell his 9,000 square foot Florida estate to raise some quick funds. But, whatever the case may be, Tucker better act soon, or you can count on checking back one year from now for a third update, or maybe actually see him in jail, and this time for real.

Related posts:

1. Chris Tucker Owes $3.6 Million in Back Taxes
2. Chrysler Group’s CEO Jim Press Owes About $1M in IRS Back Taxes
3. Sinbad Owes Over $8 Million in Back Taxes

1. Lil Wayne- Perhaps Lil Wayne is really enjoying his time in prison? That’s our assumption at least, because this rapper is basically asking for more time in the slammer; this time, for failing to pay his taxes. Just last month, the IRS filed a $1.13 million, or as Wayne would put it, ‘a milli,’ tax lien against Lil Wayne for unpaid income taxes from years 2004, 2005, and 2007. And this isn’t his first encounter with the big boys, as Wayne previously had a lien filed against him in 2008, but managed to scrape up the $966,840 to pay it off.  Let’s see if he can do it again…
2. Chamillionaire- Our boy Cham’s recent house foreclosure in Houston proves his inability to meet off mortgage payments. But, turns out that Chamillionaire has been struggling paying off taxes, too. Owing $184,000 in back taxes resulting from unpaid income taxes in 2007, Chamillionaire could be in over his head this time. If this rapper doesn’t clean up his act soon, he may actually have to change his name for more reasons than one.
3. DMX- Income tax, Income tax, Income tax- how many times do we have to say it until our rappers get a hint? Maybe we could make up a rap about it for them to understand better. Regardless, DMX is another one who owes over one million to the IRS in back taxes from failing to pay his income tax in 2002, 2003, and 2005. The money added up and the IRS, along with the State of New York, issued out more than one lien against him- culminating to over $1.5 million dollars.
4. Nas- So did we save the best for last? You decide. The numbers speak for themselves in Nas’ case, as he owes over $2.5 million dollars to the IRS. The money is a result of a tax lien filed against the rapper from unpaid federal taxes from 2006 and 2007. Now, not only does Nas have to worry about child support payments to ex-wife Kelis, but paying off his major tax bill, too.

So,that’s all for now, ladies and gentlemen. But, we aren’t making any promises that this is the last time we’ll be reporting on rappers with tax issues…

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1. NAS Owes the IRS 2.5 Million In Back Taxes
2. Chrysler Group’s CEO Jim Press Owes About $1M in IRS Back Taxes
3. Three Artists Who Cannot Seem To Rap Up Their Back Tax Issues

1. Method Man- Or, more formally, Clifford Smith, has been all the talk this past week. What’s the big fuss? First off, he was arrested in October on felony charges, and accused of declining to pay $32,799 in personal income tax along with state income tax. Method Man pled guilty to the charges, and surrendered $106,000 in back taxes, penalties and interest over to the IRS. While the arrest could have guaranteed him four years in prison, our Man got off with a mere ‘conditional charge’- basically a spot in time out, with all charges cleared as long as he could stay out of trouble.
2. Swizz Beatz- Celebrated producer and acclaimed artist ‘Swizzy’ owes an even larger chunk of change to the IRS. Apparently, Beatz was recently served a $652,727 tax lien for unpaid federal taxes from 2008. What’s worse, this isn’t the first time. Swizz’s history shows a total of almost $2.2 million in back tax debt. I guess all of his ‘money in the bank’ could only last for so long…
3. Fat Joe- We should have known when his two million dollar Florida estate went on the market. Owing over $71,000 to cover the lost judgment against Florida Sun Trust, Fat Joe takes the third and final position on our list. And, it turns out that Florida may be the least of this rapper’s worries. Fat Joe reportedly owes back taxes amounting to $139,000 from previous liens such as the $105,000 claim from the state of New Jersey in 2008.

So will our rappers clean up their acts? My opinion? They should focus less on rapping about money and more on taking charge of it and maybe, just maybe, they could have a lasting chance.

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1. Wait, There’s More- Four Additional Rappers to Add to Our Back Tax List
2. Teresa Not The Only Housewife with Real Money Issues
3. Florida Introduces Amnesty Program to Provide Back Tax Relief

Danielle Staub, the reality show’s “cast out” often attacked for viscous and rude behavior, has also been targeted by a group a little different than her fellow Housewives- The IRS. In March of 2006, Danielle reportedly had a $111,161 tax lien filed against her. And, just one year later in 2007, faced yet another lien. Perhaps Danielle should concentrate more on paying the IRS, rather than her plastic surgeon.

Caroline Manzo, contrasting Danielle as the sweet, mother-like figure of the wives, has also shown signs of monetary issues. On the surface, Caroline appears to be one of the most well off of the bunch, owning Jersey’s prestigious Brownstone event facility among other valuable assets. However, Caroline’s assets, including the infamous  Brownstone, have faced numerous judgments and liens against them, with the number currently standing at over thirty, since 1990.

For Housewife Dina Manzo, excessive spending on the Real Housewives series apparently was just not good enough. Thomas Manzo, Dina Manzo’s hubby, was allegedly sued by American Express for $12,599, following the couples lavish wedding featured on VH1′s ‘My Big Fat Fabulous Wedding’ show.

Finally, housewife Jacqueline Laurita has demonstrated an inability ward off financial issues, too. Jacqueline and husband Chris have been unable to pay off their loans, recently filing  for liquidation under Chapter Seven in a U.S. Bankruptcy Court. Hey, at this rate, the court could be the wives’ all new hangout.

So, there you have it, five for five of the New Jersey housewives, famous for their extravagant and excessive lifestyles, may actually be less well off than the average Joe- or Josephine, if we are trying to stay in wife theme here. So what happens next? Perhaps the show will undergo a dramatic transformation and name change- The Real Workingwives of New Jersey? Doesn’t seem to have quite the ring to it. But who knows, anything seems to be possible with this bunch.

Related posts:

1. Three Artists Who Cannot Seem To Rap Up Their Back Tax Issues
2. IRS to ‘strip’ Hatch of Survivor Earnings, and Then Some
3. Darryl Strawberry Owes More Than 500k In Back Taxes

Stage One of IRS Attack on Deadbeat Taxpayers – Letters in the Mail

If you skip filing your taxes for a few years, you’ll probably head to your mailbox one day and discover a letter asking what your problem is – although not in those exact words! The first and maybe the second letter you receive from the IRS will ask you about your debt and remind you that you owe income taxes. Soon after, you can expect to receive a FINAL NOTICE in the mail. This is the last notification you’ll receive from the IRS before they unleash the dogs and come after you for the money you owe. This would be a good time to make good on those debts!

Stage Two of IRS Attack on Deadbeat Taxpayers – IRS Levy

If the letters and FINAL NOTICE did not scare you into paying the money you owe, stay tuned for an IRS levy. A levy is when the IRS puts a hold on the funds in your bank accounts. You won’t be able to access the money in your bank account and if your check is being direct deposited, you can watch it disappear because you won’t have access to those either. Because an IRS levy is a federal lien on your bank account, there won’t be anything you – or the bank – can do to stop it.

Stage Three of IRS Attack on Deadbeat Taxpayers – Tax Lien

The IRS has the power to ruin your credit score for all of eternity. Well, at least through the end of your life. A tax lien can be placed on your credit, which means you won’t be able to apply for new credit. If you own a house, you might experience a tax lien placed on your home, which will make it impossible to renovate or sell. If you’re still standing by waiting to see what happens next and making no plans to pay the IRS owed taxes, you might see the tax liens turn into full blown “seizures”, where the IRS takes it upon themselves to sell your property to recover the tax debt you owe.

Stage Four of IRS Attack on Deadbeat Taxpayers – Wage Garnishment

If you were lucky enough not to have direct deposit of your paychecks when your bank was placed on hold, you can still lose your paycheck through wage garnishment. The IRS has the power to contact your employer and take up to 80% of your paycheck each pay period until your taxes are paid off.

Avoid Becoming a Deadbeat Taxpayer

Obviously, the solution to avoiding IRS attacks is to file your taxes and pay for any taxes owed. You don’t want to be on the receiving end of any of the above “attacks”; or put in jail with penalties up to $50,000 per year for not filing your income taxes. You can always file for extensions if you need more time, set up payment plans if you can’t afford to pay your taxes in full before they’re due, or use an agency designed to help individuals pay off back taxes.

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2. Why You Can’t Get Away With Not Paying Your Taxes
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Before appearing on Survivor, Hatch lived a modest lifestyle, holding jobs from car sales to bartending to pay off the bills. Hatch even served in the military for five years, but apparently his proclaimed self discipline and restraint skills only served him well for so long. Reportedly, The IRS filed a $1,742,711 tax lien against Hatch earlier this year, with tax debts reaching as far back as 2000; the very year he won the title of ‘Survivor.’

And this isn’t the first time. In January of 2005, the US Attorney’s Office filed a claim against the Survivor for failing to report his winnings received on the final show- perhaps he thought they missed that episode? As if this wasn’t bad enough, Hatch continued to inaccurately record even more post show earnings, such as the $321,000 he received from his appearance on the WQSX-FM radio show in Boston later that year.

Initial charges against Hatch were lenient, with agreements arranged after a guilty plea on his behalf.  However, Hatch shortly thereafter pulled out of the arrangement, only to stir up more trouble.

For some reason, I don’t think that the IRS will be so prone to allowing Hatch to run away with the money as his fellow contestants were, but I guess we’ll just have to wait and see.

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2. Floyd Mayweather Agrees to Pay His Back Taxes, Over $5M
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An IRS installment agreement allows you to set up a monthly payment plan to pay back the tax money you owe. In order to qualify, you generally need to be in good standings with the IRS. If you owe less than $10,000 and have a clean record you should most likely automatically qualify, as long as you can pay the balance over a 36 month time period. If you owe more than $10,000 but less than $25,000 you should also qualify if you are in good standings. You will then have up to 60 months to pay back the amount due. Special agreements are also often made for those that owe $25,000 by calling the IRS.

If you owe $25,000 or less you can apply right on line at the IRS website or print off the application form and send it in. There is an application fee of around $100.00 which is cut in half if you set up to have your payments automatically withdrawn from your bank account. You can also pay by credit card or with a check or money order. When you get your confirmation that your application was accepted, it will tell you where to send your amount due each month.

If you do decide to apply for an IRS installment agreement, you should know that the IRS can file a notice of federal tax lien on your property in order to secure their investment with you. They can keep the lien on your property until your final payment has been made. They IRS considers a tax lien a passive way to collect what they are due. By placing the lien you have a vested interest in getting the lien removed and will be more likely to make your tax payments.

A tax lien is very serious and should not be taken lightly. It can reap havoc on your credit score, dropping it as much as 200 points or more. A tax lien also stays on your credit for seven years after your final payment. Not everyone will receive a tax lien, but anyone the IRS feels is a risky investment could receive one.

If the IRS decides that they are going to issue a tax lien against your property as part of your installment agreement, they will send you what is called a 2603C letter. This letter will let you know that your agreement has been accepted with the condition of the tax lien. In the letter they must state the date that they will be filing the tax lien. They are required to give you at least a 10 day notice. If you pay off your tax bill before the date given, they cannot file the lien.

If you do receive one of these letters and can scrounge up the money to pay your bill it is in your best interest to do so. If they do place the lien you need to realize that while it is there you will not be able to sell your home and most likely not be able to get any type of credit. This includes opening a new credit card, receiving funding for a car loan, taking out a mortgage or renting an apartment. Your insurance could also go up as many insurance companies now use your credit score to help determine your rate. Some employers even look at credit scores before hiring.

If you do end up getting a lien placed on your property you will want to do all you can to pay off your tax bill quickly. As soon as it is paid off you will want to have the lien removed. Usually the IRS automatically does this within thirty days of your last payment, but you will want to pay close attention and make sure that they do so.

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1. Can’t Pay Taxes? Setup an Installment Agreement
2. Why an IRS Installment Agreement Will Cost You More
3. Tax Installment Agreement: What You Need To Know About

Places to check and monitor your credit report

• Equifax Credit Watch Gold 3-in-1: This will give you comprehensive credit file monitoring and automated alerts of key changes to your Equifax, Experian, and TransUnion credit reports. You will also receive up to $1,000,000 of identity theft insurance.
• Fico Scores/Reports:Easy to use interface to view your FICO credit scores and credit reports from Equifax and TransUnion.

What is a tax lien and how does it happen?

When a lien is placed on your property or assets is allows a creditor to retain lawful possession of said property until you are able to repay the debt owed in full. There are many instances where a lien can be placed on your property, one of which is past due taxes owed to the IRS. If you have a lien on your property, you must take care of any monies owed before you regain the right to full ownership of that property. An IRS tax lien occurs when you have been contacted by the IRS in regards to taxes owed and have failed to either make a payment or make arrangements to repay the tax bill owed. According to the IRS a tax lien may be placed against your property after the following three steps:

• The IRS determines you owe a tax liability.
• The IRS has contacted you with a notice that asks for payment of your tax liability.
• The taxpayer fails to make a payment in full within 10 days of receiving the notice.

In the case of a Federal Tax Lien, all of your assets will be covered, therefore you must repay the tax bill in full plus interest and penalties before the lien will be removed from your property. This lien covers any money you make from your current assets and future gains until the tax liability has been repaid.

A lien placed by the IRS will supersede any other liens you may have on your property including your mortgage. A tax lien is reported to the major credit reporting agencies and becomes a matter of public record. As a result all current and potential lenders will have access to this information. Knowing that the IRS will be first in line to collect money owed, this makes you a higher risk for lenders making it almost impossible to qualify for loans or other forms of financing. Having a tax lien on your credit report can be quite damaging, therefore you have to take the steps needed to address the issue and resolve any tax bill owed to the IRS.

How to remove a tax lien.

Once a tax lien appears on your credit report, the only way to remove that tax lien is by working with the IRS to obtain a certificate of release of lien which can be submitted to the credit bureaus by the IRS, the taxpayer or both. As a general rule the IRS does not hand out these certificates until the tax liability is paid in full, however in rare cases, they will release the certificate when payment arrangements have been made. If you qualify for an Offer In Compromise (the IRS version of debt settlement), arrange for an installment plan, obtain a bond or if the lien is no longer enforceable due to the statute of limitations expiring, you may be able to get a certificate of release without paying the tax bill in full. Regardless of the method used to obtain the certificate, you must ensure the credit reporting bureaus receive this information in order to have the lien removed from your credit report.

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1. How a Tax Lien Will Affect You
2. How an IRS Installment Agreement Could Hurt Credit if IRS Secures It
3. Pennsylvania Tax Amnesty: Remove 100% of Penalties & 50% Interest

A tax lien placed by the IRS means that they’ll have all rights over that asset. You can only restore your rights to the property (land, home, car, etc) when you’ve paid off your taxes in full and the tax lien is removed. You can’t sell the land or property if the IRS has placed a tax lien on it. A Notice of Federal Tax Lien will be filed if you’ve received a Notice and Demand for Payment of taxes and you neglect to pay or refuse to pay within 10 days after receiving the notice.

A tax lien is the first step taken by the Internal Revenue Service to collect taxes owed. It will be established in the amount of your tax debt. The tax lien will make your financial situation so complicated that it normally forces an individual to pay their taxes. When a tax lien is filed, your creditors are all publicly notified that the IRS has a claim against all of your property – including any property you may obtain after the lien has been filed. The notice is used by the court system to establish priority in possible sales of real estate or bankruptcy. The tax lien means that the IRS receives it’s money for back taxes owed before any other creditor can receive payment from you. If after a tax lien is placed on your property you still do not pay the taxes – the IRS will begin to levy and seize assets in exchange for taxes owed.

Tax Liens and Credit Rating

When a tax lien is filed, your credit rating is likely to decline. You will find it next to impossible to get a loan, or financing for a car, credit card, mortgage, or even to sign a lease on an apartment. To avoid credit rating complications which can cause you problems for years to come, it’s in your best interest to pay your taxes before a tax lien is placed.

How a Tax Lien Can Be Released

You’ll receive a Release of the Notice of Federal Tax Lien within 30 days of paying the tax due, including all interest and fees, or within 30 days of having the amount adjusted by the IRS. You can also receive a release of the tax lien within 30 days of the IRS accepting a bond that guarantees your payment of the debt.

You are also responsible for paying for fees associated with the state’s filing of the tax lien and release of the lien. These fees are added to the amount you owe.

Common Forms of IRS Levy

If an individual does not take action to pay off the taxes they owe after the IRS places a lien on the taxpayers property, it is likely that the IRS will eventually begin to levy. The IRS will commonly begin with a wage garnishment – which means they will take a percentage of your paycheck each payday. They can also levy a bank account in your name. If future income taxes show you are owed a refund – the refunds will be kept by the IRS towards the amount you owe in back taxes.

What to Do if the IRS Places a Tax Lien on Your Property

An IRS lien will only be removed if you pay the amount owed in full or you’ve come to an agreement for paying the back taxes. You may not realize that you have options for making payments to the IRS if you can’t afford to pay your taxes all at once.

The IRS offers installment agreements, which allows you to make monthly payments towards the amount you owe. There are a number of options for settling back taxes for less than the total amount owed in certain circumstances. Talk with a tax professional to figure out your best tax settlement method.

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1. Why Does the IRS Impose Tax Liens?
2. What If I Have a Tax Lien on My Credit Report? How Do I Remove?
3. Steve Austin Slapped With Tax Lien for Back Taxes

Currently, John Elway is reported to owe almost 6,000 in back taxes ($5,885.97 to be exact).  The tax lien was filed 6/20/2007 by the Oklahoma Tax Commission and lists his property in Englewood, Colorado as the main address. We were able to confirm it with Oklahoma County after it was reported by a few sources.

Here is the link to view the actual record on file with Oklahoma County.

Watch Elway’s Top 10 Plays of All-Time

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Once the IRS gets wind of the fact that you failed to pay your taxes the their collection process starts. The IRS collection process is a very automated process and it is starts with being subtle about what is owed and will continue to get harsher and harsher until your taxes have been paid or enough assets have been seized to fulfill the outstanding tax liability. This collection process is very similar for most individuals but it can deviate course a bit depending upon your assets, financial situation, and past run ins with the IRS. Below are the standard steps the IRS collection system will follow.

1. Receive Series of Tax Assessment Letters: These letters will start off by simply stating what you owe in taxes and that you must pay. Each letter following the original will get a bit harsher in tone and a bit more threatening each time. Each time an IRS letter goes ignored you can expect the IRS to increase the severity of their next letter or action. Typically you will receive about 4 different letters that assess tax amounts owed before any actual action is taken by the IRS. These threatening letters will last for a period of 4-6 months before the IRS moves to their next collection tactic.
2. Receive an Notice of Federal Tax Lien: A tax lien gives the IRS legal claim to your assets in order to secure payment. This should not be taken lightly because it is very unlikely you will be able to get any company to lend you money since the IRS has first dibs on proceeds from your assets over other creditors. Many people do ignore the tax lien because it may not effect their everyday life, but if you continue to ignore it you can be assured the IRS will move to a harsher collection mechanism. (Sometimes this step can be skipped and the IRS moves right to #3 if they are dealing with a lot of money or think they are dealing with a very unresponsive taxpayer)
3. Receive notice of intent to levy: A tax levy is the final collection mechanism used by the IRS where they will forcefully seize your assets against your will. Once they issue a tax levy they have already labeled you as an unresponsive taxpayer and take collections into their own hands since you have failed to work with them to pay back the taxes. The IRS has several levy methods they use and they will choose the one that is easiest for them to collect taxes. The three forms of levy they will use are the following:
   • Wage Levy: They will contact your employer and require that they withhold amounts from your paycheck in order to pay down the tax liability.
   • Bank Levy: The IRS will contact your bank and require that they freeze funds in their in order for them to seize what funds are in there to satisfy the tax liability.
   • Asset Seizure: The IRS will seize assets of yours and sell them in order to satisfy the outstanding tax liability.

As you can see the IRS will not stop until they get what is owed to them. Hiding from the IRS and trying to prevent them from getting the taxes owed is extremely difficult. If you cannot pay your taxes it is a good idea to work with the IRS and pay back the taxes you owe on your terms instead of on their terms.

Related posts:

1. Federal Tax Levy – Steps to Resolution With the IRS
2. How Does the IRS Attack Deadbeat Taxpayers?
3. How an IRS Installment Agreement Could Hurt Credit if IRS Secures It

Phelps holds the world record for most gold metals won in a single Olympics. He won 8 gold metals in the 2008 Beijing Games in various swimming events. Phelps has gained much publicity and much stardom. It is estimated that he is worth around $50 million with all of his sponsors and endorsements that he has done. It makes it hard to believe that someone with this much money actually owes money in taxes. It makes you think that it was likely due to complexity of tax laws and not do to the lack of money to pay the bill. He is one of many celebrities to have tax liens filed against them in recent months.

Michael Phelps Making History in 2008 Olympics

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It makes you wonder if all these people are really having financial troubles or is the IRS just getting too complex causing problems for many people. In 2007 Big Boi and Andre “3000″ ranked 13 in Forbes Hip-Hop Cash Kings list and they are said to have made $14 million that year. It is hard to believe that he doesn’t have enough to pay his taxes or even pay a financial adviser to enough to make sure he stays in compliance with IRS laws.

OutKast Ms. Jackson Grammys Live

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Oakland’s Mayor, Ron Dellums, owes the IRS $239,000 dollars for taxes he failed to pay in 2005, 2006, and 2007 according to public records and confirmed by news reports. A public tax lien was placed on his residence.  Here is yet another politician who like Charlie Rangel caught with tax problems.

The San Francisco Chronicle broke down Dellum’s unpaid taxes or IRS tax liabilities by year:

• $124,198 in unpaid taxes from 2005
• $66,554 in unpaid taxes from 2006
• $48,246 in unpaid taxes from 2007

Dellums has stated that he is committed to resolving these tax problems or unpaid taxes.  As a taxpayer, the IRS does not care who you are, or what you do, with declining tax revenues it is in your best interest to pay taxes owed now rather than later because tax interest and penalties will only add to your balance.

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Ed Rollins, a Political Campaign Consultant, and known for his work as Republican Director for Reagan in 1984, Co-Manager for Perot’s Campaign in 1992, and Whitman’s in 1993 for NJ, and recently for Mike Huckabee’s campaign, owes the IRS about 1.24 million in Federal Taxes.

Rollins, according to public records and the Detroit News,  had IRS liens filed against him as follows: $87.6k on 9/10 in New York City registers office, $47.5k on 7/29 in NYC, $13.5k on 5/21, and $977.4k on 3/11 in NYC.

The IRS, doesn’t care who you are. If you owe Federal taxes it is best to get the situation resolved as soon as possible because interest, and penalties will add up while the IRS tax lien stays in place.

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NAS, who real birth name is, Nasir bin Olu Dara Jones, was hit with a $2.5 million dollar tax for unpaid taxes between 2006-2007. According to the IRS, which filed a tax lien against the rapper, he did not pay taxes for 2006 and 2007.

This recent rapper joins the ranks of Method Man who recently was reported to be in trouble with taxing authorities.

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1. Aaron Carter Owes Over $1 Million in IRS Back Taxes
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3. Big Boi of OutKast Owes $55K in Back Taxes

The former MLB All Star, New York Mets and Yankees star who has faced tax problems (like some other former NY Mets players) in the past owes over $550,000 when totaling California State and IRS back taxes. He was well known as a home run hitter with a large presence in the batters box.

Darryl is well known for leading the NY Mets to a World Series win in 1986 and a NY Yankees championship in 1996, 1998, and 1999. He has been faced major personal issues in the past ranging from divorces, drug charges and even colon cancer but has since changed his life for the better and has even setup the Darryl Strawberry Foundation to bring “global awareness to autism and other developmental disorders.”

In 1995, the NY Times reported that owed over 100,000 in back income taxes (for underreported income of $411,250 between 1986 and 1990), and today the Detroit News reported that he owes over $550k in back taxes. The breakdown according to the Detroit news is as follows. He owes over $259,000 to the State of California (as a tax lien was filed 4/09), over $250k to the IRS (IRS tax lien filed 12/08.

When faced with any tax lien, you as a taxpayer, should try to resolve the issue as soon as possible as interest and penalties will only add to your total balance. The best thing to do is reach out to a firm like us that can help you get on the right track by helping you pay, possibly settle and get into a payment plan with the IRS or State.

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3. Patti LaBelle Owes $337K in IRS Back Taxes

After ACORN was recently caught with the intention to aid in some illegal activities using Tax Dollars, it had its funding quickly halted by the US Senate. Now the IRS is taking action, as they handed ACORN a Federal tax lien stating they owe the IRS about $548k for 2 years of unpaid payroll taxes. They are currently being pursued for unpaid state taxes now as well as the organization faces serious tax problems. It is projected that ACORN owes about $1.5 million dollars

If you are an organization that owes payroll taxes or state taxes to the IRS and you haven’t paid, it is best to quickly resolve the situation through direct contact with tax authorities. With State, local and Federal tax revenues down, now is the time to resolve back taxes.

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3. Chrysler Group’s CEO Jim Press Owes About $1M in IRS Back Taxes

The economic slump is not only taking a toll on the auto industry as whole in America but it is starting to negatively impact major executives as Jim blames his recent money problems on the lack of year end bonuses he and other executives were expected to receive. Jim states that he tried to obtain loans to refinance his home but was denied by two banks.

This becomes news as Jim Press is rumored by Automotive News to be stepping down at the end of the year or before the beginning of 2010. Chrysler has not commented further on this issue.

But don’t cry for Jim, he recently sold a townhouse in NYC (located off Park Ave) for about $15 million after he purchased the property in 2007 for about $13 million. Moreover, he still has a half-million dollar Condo public records show in New Orleans.

As the IRS and State tax revenues decline because of falling incomes and a bitter economy, this is not the time to be out of compliance with the IRS or State or assume you will slip under the radar.

If you are facing tax troubles for unpaid taxes, get help from diverse tax team of professionals today.

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2. Oakland Mayor Ron Dellums Owes 239k In IRS Back Taxes
3. Chris Tucker Owes $3.6 Million in Back Taxes

Small tax firms are typically better for establishing a long standing relationship to file taxes and maintain accounting records. If you own a business and you need someone to help maintain your books and do normal tax filings that every business needs to make, it is a good idea to go with a local company since this will be an ongoing relationship. Even if you are looking for a professional to help with tax returns and general accounting a local tax firm would be the way to go. Small firms are not better for handling complex tax debt and back taxes issues. Small, local tax companies tend to focus on the normal tax filings and don’t have the manpower and expertise needed to efficiently and effectively handle the complex tax issues that are not seen as frequently.

Large tax firms that serve individuals nationwide have a great advantage over the small tax firms that tend to serve local communities. These large tax firms are able to achieve efficiencies on more complex tax issues. Many of the large firms will hire a variety of different tax professionals (Tax attorneys, CPAs, Enrolled Agents, CPAs & Ex IRS Agents) to handle complex tax issues such as unfiled tax returns, large amounts of tax debts, tax levies, tax liens etc on a daily basis. A tax professional that handles tax levies every day is going to be more efficient and effective than a tax professional that handles them occasionally. Most small firms only see these types of cases occasionally, so it would be a wiser choice to go with a large firm in these cases. Large firms are typically cheaper as well because they know how to navigate IRS issues quicker and more efficient, therefore billing out less total hours on your case. Below are some instances where it would be a good choice to hire a large tax firm that helps individuals nationwide:

• Offer in Compromise Help
• Tax Levy Help
• Tax Lien Help
• Wage Garnishment Help
• Bank Levy Help
• Installment Agreement Help
• Payment Plan Help
• Penalty Abatement Help
• Audit Help
• Innocent Spouse Relief Help
• Back Taxes Help
• Unfiled Tax Help
• Tax Settlement Help

Most people have an apprehension to using a large tax firm that they cannot sit down with directly because they are not local, they shouldn’t. Tax cases are slow moving and are all done by mail and email and there is no need to use a local firm. Everything can be done more efficiently over the phone and through email. Hiring a large nationwide tax firm is a great idea to resolve complex tax issues because you have all the best resources and professionals in one central location to help you with your problem.

Related posts:

1. Use Tax Experts Instead of a Debt Settlement Firm for Tax Problems
2. Types of Tax Experts and When to Use Each One
3. Federal Tax Levy – Steps to Resolution With the IRS

The IRS filed a tax lien on August 7th for about $117k on August 7th, with California filing liens against the famous actor for about $59k in May.

As stated before, taxpayers, businesses, and the like during this economic downturn must pay careful attention to their tax filings and tax payments as States and the IRS are experienced significant revenue declines and are doing everything possible to recover lost revenue.

If you are facing similar problems including IRS Back Taxes, give us a call before penalties and interest increase further.

Related posts:

1. Chris Tucker Owes $3.6 Million in Back Taxes
2. Former NBA Star Robert Traylor Owes $178k in Back Taxes
3. Otis Williams of the Temptations Owes $176K in Back Taxes

Tax Liens

Ruined Credit

Once a Lien is filed your credit rating will be harmed and it will be nearly impossible to buy a house, buy a car, get a new credit card, or even sign a lease. Consequently, it is very important to work to resolve your Tax Debt before a Lien is filed against you.

Tax Liens Defined

Basically, Tax Liens give the IRS legal claim to your property as security or payment for your Tax Debt. When the IRS files notice of the Tax Lien, creditors are publicly notified that the IRS has a legal claim against your property. This includes:

• Property acquired after the Tax Lien is fied
• Accounts receivable
• House, Car, or Real Estate

Warning Signs, Notice of Federal Tax Lien

The IRS cannot file A Notice of Federal Tax Lien unless they first:

• Assess the Tax Liability
• Send a “Notice of Demand for Payment”

If you neglect or refuse to pay the Tax Debt within 10 days after your received notification, the IRS will create the Tax Lien for the amount of Tax Debt owed.

Related posts:

1. How a Tax Lien Will Affect You
2. Why You Can’t Get Away With Not Paying Your Taxes
3. What If I Have a Tax Lien on My Credit Report? How Do I Remove?

The IRS has filed a tax lien against Nicolas Cage for 6.25 million dollars according to the Detroit News today.  An IRS tax lien is usually the first major action the IRS will take  if you fail to pay taxes. The reason why you see the media reporting this is because a tax lien becomes public knowledge as it will show up in country clerks office records, state records, your credit, and more.  According to sources, Nicolas Cage feel behind with IRS in 2007, which lead to the IRS hearing in LA court in New Orleans on 7/14. This is the second time Cage has run into the IRS paying 660k 9/2008 in back taxes for the unreasonable deduction of personal expenses.  Nicholas Cage is one current celebrity that owes now a ton in back taxes.

Related posts:

1. Edward Rollins Owes $1.24 Million In IRS Back Taxes
2. NAS Owes the IRS 2.5 Million In Back Taxes
3. Sinbad Owes Over $8 Million in Back Taxes

Steve Austin

Austin’s taxes owed are minimal compared to other celebrities such as Wesley Snipes, Willie Nelson, and Judy Garland.

A state or an irs tax lien can have detrimental effects as it can impact your credit and if unresolved can lead to a tax levy or the government seizure of bank accounts, wages, and other personal property.  Taxpayers faced with a tax lien should work with a tax professional such as a CPA, Enrolled Agent, or Tax Relief Lawyer.

Related posts:

1. How a Tax Lien Will Affect You
2. Chris Tucker Owes $3.6 Million in Back Taxes
3. What If I Have a Tax Lien on My Credit Report? How Do I Remove?