Celebrity news

Tax

Castroneves found not guilty of tax evasion

By midday Friday it looked like Helio Castroneves would be biting his nails through the weekend, waiting for the jury to continue deliberating this week. But by the end of the day Friday... he walked out of the courthouse, free. After six weeks of trial and another six days of deliberation, the jury deadlocked on the key charge of conspiracy. U.S. District Court Judge Donald Graham declared a mistrial on the conspiracy charge and told Castroneves he was free to go. On his way out people everywhere, including court officials, congratulated him. "Go get 'em, Helio," said a U.S.
Tax

Castroneves tax trial diary - The wait is over

Friday, April 17, 2009Helio Castroneves and his sister Katiucia have been acquitted on all counts of tax evasion. The jury remained hung on one conspiracy charge against each of the Castroneves defendants. Castroneves's Michigan lawyer, Alan Miller, was acquitted on the conspiracy count and three counts of tax evasion. Friday, April 17, 2009For a second time, the Castroneves defense team has filed a motion for a mistrial, and for a second time, Judge Donald Graham denied the request.
Tax

Snipes violated court order but gets a pass

Updated April 3, 2009 - Last July, Wesley Snipes was acquitted of the worst of the tax evasion charges against him, but was still sentenced to 36 months in prison and ordered to pay a $5 million fine. Snipes remains free on bail while he appeals the decision, but Senior U.S. District Judge William Terrell Hodges limited Snipes's foreign travel to London and Bangkok while the actor completed work on movies. In November, Snipes violated that restriction by attending a party for a resort opening in Dubai.
Tax

Bounty hunter Duane "Dog" Chapman hounded by the IRS

His accountant says it's all a matter of bad timing. Duane "Dog" Chapman is the owner of Dakine Bail Bonds in Honolulu, but is more well-known as the star of the A&E reality show, "Dog and the Bounty Hunter."According to tax liens filed at the Hawaii Bureau of Conveyances filed January 27, Chapman owes $2 million in unpaid taxes that go back as far as 2002. Not that he hasn't had his share of tax woes before...
Tax

Did golf pro Jim Thorpe slice the IRS?

Three years of unpaid taxes, from 2002, 2003, and 2004... that's the bunker Jim Thorpe finds himself stuck in. Charges were filed in an Orlando, Florida federal court accusing Thorpe of failing to pay federal taxes – amounting to $1.6 million - on income of more than $5.2 million earned during that three year period.The U.S. Attorney's office in Orlando told reporters that in addition to the $1.6 million in taxes due, Thorpe is looking at a $3.2 million fine, and a possible seven year jail term, for failing to file income tax returns and three counts of failing to pay taxes.
Tax

Castroneves court requests denied, tax trial will begin in March

Brazilian racecar driver Helio Castroneves was in court again in early February and yet another hearing will take place on February 16th. In the latest courtroom drama, Castroneves and his codefendants were hoping to derail the government's tax evasion case against them. Unfortunately for them, the federal judge wasn't buying their arguments, and the March 2nd trial will proceed as planned. Castroneves is accused of carrying out various schemes designed to evade the taxes on $5,550,000 in fees he earned for racing and for the use of his name in endorsements in 1999-2002.
Tax

Did Al Franken pay the $70,000 back taxes he owes? He's not telling

With Congress in the hands of the Democrats, we're all still waiting a final count in the close Minnesota race for the U.S. Senate seat between incumbent Norm Coleman and his challenger, Al Franken. Franken is a comedian and political commentator who travels the country making speeches and earning speaker fees. Last spring as the Senate race started to heat up... so did the news that Franken had unpaid taxes in 17 states, plus other problems.
Tax

For Daschle, it was a short drive from tax problems to political oblivion

The story is becoming sadly familiar. On January 2, 2009 Tom Daschle rushed to file amended tax returns for 2005, 2006, and 2007, and pay $128,203 in unpaid taxes plus $11,964 in interest. There was no mention of penalties. Why the rush? The 61-year-old former U.S. Senator from South Dakota was nominated to fill a post in the Obama cabinet, as the head of Health and Human Services as well as a newly created post, the head of the White House Office on Health Reform.
Tax

Geithner sworn in as new Treasury Secretary

In a decisive vote of 60 to 34, members of the U.S. Senate chose to ignore disclosures that Timothy Geithner might have been guilty of cheating on his taxes for four years, and gave him the nod as the next Secretary of the Treasury.From 2001 to 2004, Geithner worked at the International Monetary Fund (IMF) and received fees for services on which no Social Security and Medicare tax were withheld.
Tax

Did Obama's Treasury nominee, Tim Geithner, weave a tangled tax web?

Last November when then president-elect Barack Obama tapped Timothy Geithner to take the reins as Treasury Secretary, Geithner's confirmation seemed like a slam dunk. But that was before the Obama team started vetting the nominee to make sure there would be no surprises. Geithner has been hailed as a financial wizard after working in several Treasury positions under three different presidential administrations, nearly four years at the International Monetary Fund (IMF), and most recently, as president of the New York Federal Reserve Board.
Tax

Castroneves takes back seat to Will Power while awaiting tax trial

In a press conference Tuesday, January 13, Tim Cindric, president of Penske Racing, announced that racecar driver Helio Castroneves will be replaced in the #3 Penske Indy Car by Aussie driver Will Power. Castroneves is awaiting his tax evasion trial, scheduled to begin March 2, 2009.According to Cindric, Power "will be stepping into the number three car for at least the first part of the 2009 testing while Helio's court case is being settled."Cindric stated, "We have three drivers for 2009," referring to Power, fellow Aussie driver Ryan Briscoe, and Castroneves.
Tax

A look back at famous tax cheaters of 2008

For tax cheaters, 2008 was not a good year. Celebrities, sports figures, and other famous people who underestimate the IRS may wish they could have a do-over for some of their previous activities.
Tax

"Dividing the Estate" enlivens Broadway

In addition to making audiences laugh out loud, the revival of Horton Foote's Dividing the Estate takes a sharp look at family politics and economic interests that have played a role in our current economic outlook.Pulitzer Prize-winner Foote shows how tough economic times in the late 1980s are forcing a chatty Texas family to confront its past before it can prepare for its future. Southern matriarch Stella Gordon rules over the purse strings and dominates her family, which lives off the income earned from her estate.
Tax

Raffaello Follieri's fall from grace

Oh, how the mighty have fallen! As it turns out, Raffaello Follieri doesn't exactly qualify as "mighty," but to attain a lavish lifestyle and celebrity girlfriend -- Anne Hathaway -- he dropped some mighty big names... the biggest. His romance with Hathaway fell apart last summer shortly before she helped the FBI put together a case against Follieri that could've gotten him a prison sentence of 265 years.Here's what Follieri did, according to authorities. In 2003, he arrived in New York, claiming to have inside ties to the Vatican.
Tax

Melissa Etheridge suggests California gays stop paying taxes

Since the recent passage of Proposition 8 in California, restricting the definition of marriage to a union between a man and a woman, homosexual men and woman and those sympathetic to their cause have engaged in numerous protests. Singer, songwriter Melissa Etheridge has chosen to voice her objection to the legislation by encouraging a tax revolt. In her blog, she wrote:"Okay. So Prop 8 passed. Alright, I get it. 51% of you think that I am a second class citizen.... Okay, so I am taking that to mean I do not have to pay my state taxes because I am not a full citizen.
Tax

SEC files insider trading charges against Mark Cuban

The Securities and Exchange Commission has charged Dallas entrepreneur Mark Cuban with insider trading for selling 600,000 shares of the stock of an Internet search engine company on the basis of material, non-public information concerning an impending stock offering.The Commission's complaint, filed in the U.S. District Court for the Northern District of Texas, alleges that in June 2004, Mamma.com Inc.
Tax

Helio Castroneves still faces tax charges, but may now race outside the country

Just two weeks ago he stood in a Miami court in leg irons and handcuffs, as the judge set bail at a cool $10 million and ordered him not to leave the country. Even so, on October 26th, Helio Castroneves will be racing in the Nikon Indy 300 at Surfer's Paradise on Australia's Gold Coast. The 33 year old two-time Indy 500 champ and winner of 2007's Dancing With the Stars was indicted on October 2nd on multiple charges of tax evasion. But two weeks later, Judge William C. Turnoff has given him permission to compete in the race "down under" later this month.
Tax

Can racecar champ Helio Castroneves outrun the taxman?

A winner on the Indy racetrack and onstage at Dancing With the Stars... but in one of his most recent appearances, Helio Castroneves was wearing handcuffs and leg irons. Last Friday the 33 year old Brazilian racecar driver appeared in court to face multiple charges of tax evasion and one count of conspiracy to defraud the United States of taxes on $5.5 million in income.
Tax

Tax woes may have Paul Hogan feeling “down under”

The largest tax fraud inquiry in Australia's history, that's the way the Australian Crime Commission describes the scam, or series of scams in which Crocodile Dundee star, Paul Hogan is accused of taking part. The official inquiry, called "Operation Wickenby," is in its fourth year. When the investigation started, the ACC estimated it could clawback about $300 million (Australian) in unpaid taxes.
Tax

Nicolas Cage challenges IRS and gets a lower tax bite

He fought the IRS and won, sort of. Now he only owes two-thirds of a million dollars, still enough to make most grown men cry. Actor Nicolas Cage is yet another celebrity caught in the glare of the IRS spotlight as the tax agency focuses on high income earners. Forbes.com reported last spring that Cage was notified by the IRS that he and his company, Saturn Productions of Los Angeles, might be in trouble. The issue? Improper deductions and underreported income.

Pages