Is the IRS Being Mean to Lindsay Lohan?
by AccountingWEB on
By Ken Berry
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).
According to entertainment outlet TMZ, the IRS just filed a lien against Lohan for $93,701.57 because she never paid her income taxes for 2009. If Lohan fails to clean up this latest mess, the IRS could go after her worldly possessions – including bank accounts, real estate, and any other personal property – in its efforts to collect the debt.
Lohan has been in the news recently for all the wrong reasons. She pleaded guilty last May to stealing a $2,500 necklace from a Venice, California, jewelry store at a time when she was already on probation stemming from two drunk driving convictions in 2007. As per a judge's order, Lohan is currently performing community service and attending therapy sessions after violating her probation. Prosecutors said that she missed twelve of twenty scheduled community service days, and cancelled fourteen of nineteen of her therapy appointments.
In addition, a member of the paparazzi is now suing Lohan, alleging that he was severely injured in 2010 when the vehicle she was riding in crashed into his car. The vehicle was being driven by Lohan's assistant.
Ironically, the tax lien dates back to 2009, a year in which Lohan's only cinema work was her appearance in Labor Pains. The movie, which was originally intended for theatrical release, went straight to TV, although it did run in theaters in a few foreign countries.
A representative for Lohan told TMZ that she was completely unaware of the tax problem, but she expects to resolve it quickly. The IRS hasn't issued any official comment on the matter.
At least there's some good news for Lohan: Thanks to posing in the nude for the January/February 2012 issue of Playboy, she recently received a payday of close to $1 million. The cash might be used to pay off her tax debt. She is also in talks to portray Elizabeth Taylor in a new movie.
You may like these other stories...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...
By Teresa Ambord, Correspondent Boxer Manny Pacquiao had enough troubles holding off the tax authorities in his Filipino homeland. The Bureau of Internal Revenue (BIR) of the Republic of Philippines said he owed an...
By Teresa Ambord, Correspondent As professional athletes' salaries continue to escalate, several revenue-strapped states seem to be looking to the athletes for a solution. Tax authorities are tightening enforcement...
Upcoming CPE Webinars
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.
FRF for SMEs Series--Measurement and Disclosure Principles for various Consolidations and Business Combinations, Part 4B
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
In this session we'll review best practices for how to generate interest in your firm’s services.