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
Tax News
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
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
Maryland Tax Amnesty Will Last for 2 Months
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
