Celebrity news

Tax

Two Tax Evasion Cases Loom over Lohan as Other Legal Issues Fade Away

According to documents filed at the Los Angeles County Recorder’s Office on February 13, 2012, Lindsay Lohan never paid her federal income taxes for 2010, totaling $140,203.30. The IRS made its assessment of Lohan’s latest failure to pay on September 19, 2011. This is in addition to the $93,701.57 she still owes for 2009.
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Community News

KPMG and Phil Mickelson Partner to Kick-off 'Blue for Books' Campaign

KPMG LLP and golf champion Phil Mickelson have paired to launch "Blue for Books," a nationwide charitable initiative designed to put thousands of books into the hands of children in need, through the sale of KPMG blue golf hats, just like the KPMG hat that Mickelson wears on tour.
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Tax

Stars Bring Home a Shiny Oscar, Serious Swag, and a Big Tax Bill

Everyone knows that it’s an honor just to be nominated for an Oscar, but for those who didn’t go home with a glittery statuette, they can be comforted by an African safari, plastic surgery or two nights at a luxury resort. And, of course, a tax bill.
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Tax

Demi Moore and Whitney Houston: Do Drugs and Tax Deductions Mix?

In the wake of her breakup with husband Ashton Kutcher last year, actress Demi Moore spiraled out of control, leading to extreme weight loss, convulsions, and other medical issues. Moore's camp isn't providing any details about her physical and mental condition, but we can assume she's receiving the care she needs.
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Tax

Facebook Founder Mark Zuckerberg Might Face $2 Billion Tax Bill

Facebook founder Mark Zuckerberg may face a tax bill of $2 billion by taking his company public. Why so high? Tax experts say it's because of his plan to exercise stock options. According to CNNMoney, he owns 414 million shares of Facebook but also holds options to buy another 120 million shares at 6 cents apiece.
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Tax

Rapper Lil' Kim Owes IRS Big Bucks

Lil' Kim, a famous rap artist who has been working to turn her life around, allegedly owes more than $1 million in state and federal taxes for the years 2002 to 2009. Celebrity news website TMZ reported that her 2009 debt of $86,347 was recently added to the total she already owed, bringing it to $1,026,862.
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Is the IRS Being Mean to Lindsay Lohan?

Lindsay Lohan has found herself in compromising positions before, and now she’s landed in another one. A report has surfaced that the twenty-five-year-old actress, who rocketed to fame in the 2004 film Mean Girls, is on the hook for almost $100,000 in back taxes owed to the Internal Revenue Service (IRS).
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Tax

IRS to MC Hammer: We Can Touch This

It's Hammer time: The Internal Revenue Service (IRS) is going after MC Hammer for $779,585 it claims he owes in back taxes dating back to 1996 and 1997. According to entertainment news outlet TMZ, the federal government has initiated a lawsuit to recover the tax debt from Hammer.
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Tax

Lawsuit Features Accounting Practices of a Nicolas Cage Film

Nicolas Cage has faced plenty of tax troubles in the past. According to the 'Business Insider,' he currently owes over $14 million. Now a new lawsuit is targeting the accounting practices of one of his films, 'Bad Lieutenant: Port of Call – New Orleans,' a crime drama released in 2009.
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Community News

Finding His Voice – New York CPA Auditions for 'The Glee Project'

Move over Clark Kent. You're no longer the only seemingly button-down urban professional who's decided to shed his conservative suit and tie to pursue his true identity.
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Tax

Holla, Holla...Ja Rule faces the tax music

A self-proclaimed rap "gangsta" is going to jail for committing a white-collar crime: tax evasion. Multi-platinum selling artist Ja Rule (whose real name is Jeffrey Adkins) has been sentenced to 28 months in federal prison for failing to report more than $3 million in earnings from 2004 through 2006.
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Tax

Jeter baseball fan catches bad tax advice

Christian Lopez, the 23-year-old baseball fan who returned Yankees' Derek Jeter's 3,000th career hit ball to the player, received swag and tickets for his generosity. But what would have happened if Lopez had sought some sage tax advice before being so quick to act?
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Tax

Ozzy and Sharon Osbourne at odds with the IRS

Not long ago they were one of the richest couples in the United Kingdom. Now Ozzy (real name John) and Sharon Osbourne are up to their eyeballs in tax trouble with Uncle Sam.
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Tax

Famous names go round two with the Taxman

Rapper Lil Wayne probably breathed a sigh of relief a few months ago when he settled his $1.13 million debt with the Internal Revenue Service. But compared to the new lien just filed for income earned in 2008 and 2009, that previous bill must seem small.
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Tax

Charlie Sheen, out of work, faces tax issues

Unlike many other celebrities, Sheen has not been in the news for tax trouble. But his new situation poses some interesting tax issues.
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Tax

Celebrities and their tax woes: Young Buck, Joe Francis, Jaime Pressly, and Richard Hatch

The latest celebrity tax round-up features several repeat offenders. It's great to be in the spotlight, but is sparring with the IRS the best way to stay in the public eye?
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Tax

IRS sticks former Duke lacrosse player and falsely accused rapist with $6.5M tax bill

The name Reade Seligmann has been out of the headlines for awhile, but lately he's been back in the limelight. The former Duke lacrosse player and falsely accused rapist is dealing with a hefty IRS bill.
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Tax

Pacino and Scorsese added to the list of Ponzi scheme victims

Al Pacino, who may be best known for the Godfather movies about the notorious Corleone mob family, is now finding he’s up against a real foe... the Internal Revenue Service. Public documents show Pacino owes the IRS nearly $188,000.
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Tax

Tax scams on the front burner at the IRS

In case you're thinking that maybe Wesley Snipes has a good point when it comes to lowering income taxes, the Internal Revenue Service wants to remind potential tax scam artists that it does not plan on ignoring frivolous tax evasion arguments.
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Tax

This year's Oscar swag bags are filled with tax consequences for nominees

Besides getting to don designer clothing and jewelry and pose for hundreds of photo ops on the red carpet, the members of the motion picture industry who are lucky enough to present or be nominated for an Academy Award also receive bags of goodies.
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Pages

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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