This week, the State of Maryland will start their program "Maryland's Tax Do Over" that will last from September 1st through October 30th, for Maryland taxpayers who did not pay or file their taxes as SB552 was approved by the governor on May 7th, 2009. The amnesty will cover penalties and 1/2 the interest attributed to those ... Read More
Julio Cesar Chavez vs IRS: Chavez Owes $12.7M in Back Taxes
Chavez is the 6 time world champion boxer in three different weight divisions. Was considered the best pound for pound boxer in the world and one of the greatest Mexican boxers ever. Julio Cesar Chavez has not kept up on his taxes and recently his liability went public. Chaves owes taxes on earnings from his fights from ... Read More
Nortel Owes $3 Billion in Back Taxes, Says IRS
The Ottawa Citizen reported that the IRS is claiming that bankrupt Nortel, which is undergoing the sale of its assets, owes about $3 billion in back taxes, penalties and interest. This results in creditors in multiple countries getting less as the IRS usually stakes claim over other creditors. This claim could hurt their former ... Read More
State Tax Agents Hunting Online for Individuals Who Owe Taxes
Today, the Wall Street Journal reported that certain State Tax Revenue Agents are using social sites to find those taxpayers that owe money and who were trying to stay under the radar. Social sites like Facebook.com, MySpace.com, and others have been named in the article. Minnesota and California are some of the states using ... Read More
Darren McCarty of Red Wings Owes Over $62K in IRS Back Taxes
Darren McCarty, famous for being a star for the Detroit Redwings and known for both his fighting ability and his great scoring ability. He was won four Stanely Cup Championships (in 1997, 1998, 2002 and 2008), is now facing problems with the IRS. McCarty is said to owe $63K in IRS back taxes, according to The Detroit News. The ... Read More
Robert Patrick Owes $176K in State and IRS Back Taxes
The star of Terminator 2, Flags of Our Fathers and The X Files has fired his manager after discovering that he owes both the IRS and the State of California for a total combined sum of $176,000 in back taxes. Robert Patrick was not happy about finding out what he owes and pledged to pay and get into tax compliance with both the ... Read More
UBS to Hand Over Names; Swiss Government Allows IRS to Probe Banks
If you haven't been following, the IRS vs UBS civil case was to be taken out of court with a tax settlement and the disclosure of UBS clients to the IRS. In February, UBS agreed to pay $780 million and disclose the names of 250 clients suspected of tax evasion. Most recently, UBS in cooperation with the Swiss government, ... Read More
Rapper MC Hammer Gets Hammered with $671K in Back Taxes
Stanley Burrell, MC Hammer, has just been slapped with a tax lien against him for $671,182 in taxes owed to the state of California and the IRS. Even with his career getting a second chance recently with his new TV show and schedule tour, he still is having serious financial issues. The break down of the taxes both him and his ... Read More
Prevent Back Taxes and Report Gambling Winnings
If you win money by gambling, playing the the lottery, raffles, betting on horses, and the like you must report that to the IRS. This also means you must pay taxes using the market value of car, boat, or some asset you won. If you don't report it to the IRS, they could send you a bill for what they estimate you won. Typically ... Read More
Nicolas Cage Owes $6.25 Million in Back Taxes
The IRS has filed a tax lien against Nicolas Cage for $6.25 million dollars according to The Detroit News. 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 ... Read More
Chris Tucker Owes $3.6 Million in Back Taxes
According to The Detroit News, Chris Tucker owes $3,594,409 in back taxes to the state of California. The state has filed a tax lien against Tucker for the taxes he owes. According to the tax lien, Tucker has unpaid taxes dating back six years. Chris Tucker is a 37-year-old that has been in popular films such as Friday, ... Read More
Stephen Baldwin Owes $1.084 Million in Back Taxes
Stephen Baldwin, the youngest of the Baldwin brothers has filed for bankruptcy. In his bankruptcy petition he states that his home is valued at $1.1 million but still owes $1.19 million on the mortgages. Baldwin is said to owe $749,974 in back taxes to the IRS, has $139,288 of liability related to unpaid withholding ... Read More
