Clifford Smith (aka Method Man) of the Wu-Tang Clan has been avoiding paying his taxes as far back as 2004. Today at 8 a.m., Method Man went to the Staten Island DA's office to turn himself in for felony charges he received for not paying $33,000 in IRS back taxes. Method Man is a Grammy-winning hip hop artist who won a Grammy ... Read More
Floyd Mayweather Agrees to Pay His Back Taxes, Over $5M
Floyd Mayweather was poised to make some big money with his come back to fight with Juan Manuel Marquez. Mayweather had owed the IRS back taxes for quite some time now and they were quite aware of the earnings potential for this fight. The minimum take home for Mayweather would have been $3.2 million, but if he were to win, this ... Read More
IRS Gives Tax Evaders Until October 15th to Fess Up
A couple days ago, the IRS extended their deadline for taxpayers with hidden offshore accounts to voluntarily come forward and report any account over $10k. This pushed back the deadline from September 23rd to October 15th, 2009. Remember, as a US taxpayer you need to file a tax return and report income whether working abroad, ... Read More
Chrysler Group’s CEO Jim Press Owes About $1M in IRS Back Taxes
Chrysler CEO Jim Press has close to $1 million in IRS back taxes and is even being sued by his credit union (Western Federal Credit Union) for defaulting on a $609k mortgage loan, The Detroit News reports. As many people know tax liens become public knowledge, and the IRS filed a $947k tax lien against Jim Press stating that he ... Read More
Anna Nicole Smith Dead, But CA Still Wants Back Taxes
TMZ reported just hours ago, that Anna Nicole Smith, when she passed, owed about $35k in back taxes from earnings in 2006. Now with tax interest and penalties added, she owes about $43k in taxes and cash-strapped California is trying to collect as the legal process of distributing her property and resolving all claims called ... Read More
Former NBA Star Robert Traylor Owes $178K in Back Taxes
Former NBA star Robert Traylor has about 13 days to set up a payment plan with the IRS for the $178,000 dollars that he owes or he could go to jail for 60 days, according to The Boston Herald. US District Judge Avern Cohn stated that if he doesn't set up the payment plan (most likely an Installment Agreement) within two weeks, ... Read More
Dave Coulier, aka Joey Gladstone from Full House, Owes Back Taxes
Full House funny guy, Dave Coulier who played Joey Gladstone owes back taxes to both the state of California and to the IRS. Dave Coulier is mostly known for his role in Full House, which aired on ABC from 1987 through 1995. After Full House, he struggled to find prominent roles in television and film. He briefly was a part of ... Read More
Patti LaBelle Owes $337K in IRS Back Taxes
According to The Detroit News, records indicate that Patti Labelle owes more than $337K in federal back taxes. Patty LaBelle is an African-American R&B and soul singer-songwriter and actress. LaBelle earned a #1 single in 1986 with "On My Own." She is also known for her zealous on-stage performances and her large vocal ... Read More
Top Ways to Annoy an IRS Agent…or Not!
David Letterman ran a top 10 list on ways to annoy an IRS agent. When it comes to dealing with an IRS agent you may want to do many of these things but if by any chance you end up running into John Carpenter, you should probably think twice. John Carpenter, playing for the million on Who Wants to Be a Millionaire. He was the ... Read More
Otis Williams of the Temptations Owes $176K in Back Taxes
Otis Williams, a co-founder of the Motown group The Temptations, owes the IRS $176K in back taxes. The company related to The Temptations is also said to owe back taxes as well. The group is said to owe an additional $102K in back taxes to the IRS adding to ta total of $278K in federal back taxes, according to The Detroit ... Read More
HP Receives IRS Notice About Back Taxes
HP or Hewlett-Packard is facing some tax problems as the IRS is claiming through a "notice of deficiency" that they owe around $95 million dollars from 2004-2005, with about $90 million in principal, and $5 million in penalties according to the Financial Times. This is interesting as HP has won previous contracts in the past to ... Read More
Tax Services: Use a Large, Nationwide Firm or Small Local Firm?
If you have tax problems and are looking for professional help it is important to find a reliable tax company to help. There are many companies out there that can help, large and small. Both large and small companies have their benefits. Depending on what you are looking for in a tax company and what your tax situation is should ... Read More
