Al Pacino's Tax Lien Sleeps with the Fishes

By Teresa Ambord
 
California can cross one celebrity off its deadbeat list. Al Pacino was into the Golden State for $31,706.04 (knowing what's good for him, the Godfather did not forget the extra four cents). The taxes related income from 2009 and 2011 and were the subject of a lien filed last May. 
 
In response, Pacino did something unusual. He simply . . . paid it. And on July 31, California lifted the lien. 
 
This isn't Pacino's first go-round with tax debt. In 2011, the IRS "leaned" on him for $188,283.50 related to income from 2008 and 2009. In that instance, Pacino was part of a Ponzi scheme which also caught other celebrities in a costly tax net. 
 
Pacino is famous for his gangster roles in The Godfather trilogy and Scarface
 
Now he's working on a movie called Imagine.
 
Related article:
 

You may like these other stories...

There it stands, your client's 100-year-old, rickety, vermin-infested barn or former hotel or whatever the darn thing once was. And she's considering what to do with it. There are two words that can help her decide...
It's not a reality—yet—but accounting software is poised to eliminate accountants. We are at a tipping point for many similar professions: online education replacing professors, legal software replacing...
Did you know that the tax code allows you to claim tax deductions for household damage caused by thefts, vandalism, fires, floods, hurricanes, and others kinds of casualties? But the law imposes several restrictions.Relief...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.