Ozzy and Sharon Osbourne Owe Nearly $2 Million to the IRS in Back Taxes

The IRS has been making tons of headlines recently, do you think it's tax season scare tactics, or just business as usual for the government?

NY Daily News reports:

The IRS filed documents saying the stars owe $718,948.25 for 2008 and another $1.03 million for 2009.

They aren't the only Osbournes with tax woes: daughter Kelly owes $34,000, the site reported.

On Saturday, Sharon lamented to her Twitter followers that she had been duped by people she thought were handling the matter.

"You can't rely on anyone but yourself. You have to be on top of your own business affairs," she tweeted. "My fault … lesson learned."

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IRS Directs Scorsese To Pay Millions in Back Taxes

Another celebrity with tax problems? Martin Scorsese should check out my recent press release!

Wallet Pop reports:

When it comes to squaring with the tax man, Oscar-winner Martin Scorsese is apparently no good fella. He owes almost $3 million in back taxes, and an IRS lien is seeking the director's cut, according to reports.

Scorsese's publicist called the lien a "mistake," saying the famed filmmaker has paid all his IRS debts. We hesitate to make a big production out of all this, but there are too many powerful Hollywood types with the taint of tax evasion to ignore. Wesley Snipes and Nicolas Cage top the marquee in a cast of accused and convicted luminaries who weren't ready for their IRS close-up.

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My Advice to Celebrities: How to Avoid a Surprise Tax Bill

Check out this new press release to find out my advice to the rich and famous on staying out of trouble with the IRS. No one, not even actors, musicians, or reality stars are exempt from paying taxes!

From PRweb.com:

Do not place total trust in your accountant. Every taxpayer is ultimately responsible for paying their own taxes. Make sure you know what your accountant is reporting on your tax returns, and make sure every deduction or credit listed on your returns is permitted given your situation.

Review your tax return it before you sign it! Once you sign your tax return, you are fully responsible for every item on that return. Remember, the IRS will not come after your accountant to collect unpaid taxes, they will come after you. You might even consider having your tax returns reviewed by more than one tax professional to ensure that your tax obligations are met.

Do not ignore tax issues when they arise. The sooner you deal with your tax problems, the easier and cheaper it will be. Penalties and interest can quickly double and triple your original tax bill. In addition, if you wait until liens are filed, those liens are public record, and will be uncovered quickly by the press. If you do not want to hear or read about your tax bills in the news, handle them immediately.

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IRS Socks TV Personality Montel Williams with $1 Million Tax Lien

Another celebrity has been hit with a massive tax bill.

From The Smoking Gun:

TV personality Montel Williams has been hit with a $1 million federal tax lien, according to Internal Revenue Service documents recorded this week in New York City.

Williams, who hosted his eponymous talk show for nearly twenty years, is being dunned in connection with his 2008 and 2009 individual tax returns. According to the lien (click here to view), the combined amount owed by Williams and his wife Tara for the two years totals $1,039,609.41.

The 54-year-old’s troubles this year have also included his January 5 detainment at the Milwaukee airport, where Transportation Security Administration agents discovered drug paraphernalia in his luggage. Williams was issued a $484 citation for possession of a pipe, and was allowed to continue on his way.

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Tax Beatdown Continues for Alicia Keys Husband

From DET news.com:

A giant tax bill makes a pretty poor baby shower gift, but that's what the IRS and New York gave singer Alicia Keys's husband, record-producer Swizz Beatz, who owes more than $2.6 million in delinquent taxes, records show.

Beatz, 32, and Keys welcomed a baby son in mid-October. Days later, the state of New York slapped yet another tax lien on Beatz, real name Kasseem Dean. Not to be outdone, the IRS sent its regards this week.

What's owed:

• The IRS filed a $283,562 lien against Swizz Beatz on Monday with the New York City Register.
• The state of New York filed a $134,738 tax warrant against him and his ex-wife, R&B singer Mashonda on Oct. 23. The warrant is filed with the New York County Clerk.
• The IRS filed a $652,727 lien against Swizz Beatz, real name Kasseem Dean, on June 3 with the Rockland County (N.Y.) Clerk. According to the lien, which you can see here, he owes income taxes from 2008.
• The state of New York filed a $162,300 tax warrant against Dean and his ex-wife Feb. 4, 2009, with the New York County Clerk.
• The IRS filed a $556,986 lien against Dean and his ex-wife on Aug. 18, 2008, in Rockland County. They owe 2007 income taxes, according to this public record.
• The IRS filed an $842,645 lien against Dean and his ex-wife March 4, 2008, with the Somerset County (N.J.) Clerk. According to this lien, they owe income taxes from 2006.

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Little Fockers Teri Polo Joins Ranks of Stars Who Owe the IRS

She's starring in the number one movie in the country, and apparently she owes over $450,000 to the IRS. Teri Polo is joining a long list of celebrities who can’t seem to cover their tax liabilities.

From Yahoo News:

Teri Polo of Little Fockers has joined the ranks of stars such as Val Kilmer, Nicolas Cage, Wesley Snipes and Marc Anthony who've had trouble with Uncle Sam. According to a report by RadarOnline.com Polo owes over $458,000 in past due taxes which cover a period of four tax years.

Polo, 41, is best known for her role as 'Pam Focker' from the movie series of Meet the Parents (2000), Meet the Fockers (2004) and of Little Fockers (2010).

Apparently, the IRS has placed several liens against Polo including one filed on January 25, 2010 in LA for $116,620, a lien filed in Kent County Delaware on August 7, 2009 for $114,844, another lien in LA for $91,748 filed on April 28, 2008, and finally a lien for $227,144 filed in Kent County on February 20, 2008.

Polo's business manager, Bob McGowan, spoke to the Detroit Free-Press stating that Polo went into debt after a costly divorce and several years of not working. McGowan said that the star has worked out an agreement with the IRS to repay her debt.

Continue reading at Yahoo News...

The Top 20 of 2010 - Celebrities Who Owe the IRS

Examiner.com put together a list of 20 celebrities who found themselves in debt to the IRS last year. I've included the top 5 below, but you can check out the full article at Examiner.com.

For all the money they earn, you’d think they could buy better accountants…

5. Wesley Snipes

Although not the largest of the IRS celebrity debtors, perhaps none are as well known for such storied tax problems as the Blade star Wesley Snipes. Snipes fell into a trap that many taxpayers unfortunately get involved with – tax evasion. Snipes lost an appeal over the summer and is currently in jail for failing to report income earned to the IRS. He currently has a $2.7 million tax bill, and is serving 3 years at the minimum security Federal Prison Camp in Bradford, Pennsylvania.

4. Marc Anthony

The 41-year-old singer, who married Jennifer Lopez in 2004, was recently hit with a tax lien after reportedly owing $3.4 million to the IRS. Love may not cost a thing for Jennifer Lopez, but having a spouse who's a tax scofflaw sure sounds expensive. To be fair, Anthony just announced this year that he has ‘settled’ his tax debt with the IRS.

3. Chris Tucker

Chris Tucker, known best for his role as ‘James Carter’ in the three Rush Hour movies, was identified by the IRS as owing $11.5 million in delinquent tax debt from tax years 2001, 2002, 2004 – 2006. For his roles in Rush Hour, Tucker was reported to have earned $20 - $25 million per movie. It’s easy to earn that much when you don’t pay your taxes.

2. Nicolas Cage

Here’s a refreshing change – a celeb that admits the balance and is doing something about it. When you owe $14 million to the IRS, you certainly can’t just sit on your treasure chests. Cage told People magazine last year that he is “under new business management and am happy to say that I am current for 2009, all taxes will be paid including any to be determined state taxes."

1. Joe Francis

The number one IRS nonpayer on the list shows that the cliché is true – sex does sell. The owner of the Girls Gone Wild franchise owes a whopping $30 million to the IRS, after he allegedly fell behind with payments in 2001, 2002 and 2003. Maybe he should ask some of his drunk and topless girls to lend him some cash – now that would be a classy move.

Full list here

Trick Daddy in Debt to the IRS for More than $157K

According to new reports, Miami rapper Trick Daddy has gotten behind on his taxes. The musician apparently owes the IRS over a hundred and fifty thousand dollars.

Trick Daddy (real name: Maurice Young) reportedly had his Miami home foreclosed on it May, and sold off months later in October. And now, he reports owes the IRS more than $157,00 in delinquent federal taxes.

The government agency placed several liens against Trick and his wife over the past summer, amounting to $85,366 for money earned from 2007-09, $16,709 for 2006, and $53,979 for unpaid income taxes owed in 2002.

He's not alone though. Over the past year, the IRS places liens against several other high-profile musicians, including Doug E. Fresh, Kelly Rowland, Omarion, Nas, Wyclef Jean, and Swizz Beatz, among others.

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Hip Hop Icon Doug E. Fresh Owes 2 Million to IRS

According to Hip Hop RX, music icon Doug E. Fresh (known as The Human Beat Box) is in debt to the IRS for more than $2 million. He has reportedly been dealing with financial problems for over two decades. Just one more in the long list of celebs with tax problems…

Doug E. Fresh, real name Douglas E. Davis, 44, has a lien against him for $2,276,848 dollars, according to the Detroit News. The tax lien against Doug E. Fresh was reportedly filed on October 20th.

This is not the first time Doug E. Fresh has had trouble with the IRS, as back in December of 2008, New York Post reported that the IRS filed a $367,000 tax lien against the hip hop pioneer plus over $40,000 in state taxes.

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IRS Files $63G Tax Lien Against Naomi Campbell

Supermodel Naomi Cambell is the latest celebrity to get in to trouble with the IRS. Cambell recently had a $63,000 lien filed against her for unpaid taxes. She was already in the headlines for a testimony in the trial of warlord Charles Taylor.

FoxNews.com reports:

Naomi Campbell might wish she'd kept one of those "blood diamonds" from Liberian warlord Charles Taylor to pay her taxes.

According to tax watchdog Robert Snell, the IRS filed a $63,487 lien against her last month with the New York City Register's office for taxes assessed in 2009.

Her flack in London didn't get back to us for comment.

Campbell was forced to testify recently at Taylor's war crimes trial at The Hague about receiving some "dirty-looking stones" one night in 1997 when she was a guest in South Africa of Nelson Mandela.

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IRS Hits Wyclef With $2.1 Million In Tax Liens

Shortly after discussing his plans to run for president in Haiti, Wyclef Jean was hit with a federal tax lien. The musician reportedly owes the IRS over $2.1 million in unpaid taxes. Check out the following story on Wyclef’s tax problems courtesy of The Smoking Gun.com:

In May, the IRS filed a $724,332 tax lien against Jean. Last July, the agency filed a $599,167 lien against the performer. And a $792,269 lien was lodged against Jean in July 2007. The liens cover taxes due on Jean’s individual 1040 returns for 2006, 2007 and 2008.

In 1998, Jean--whose given name is Nel Wyclef Jean--purchased a $1.85 million home at 8 Cameron Road in Saddle River, [New Jersey] where he lives with his wife Claudinette and their family. The three IRS liens were filed against Nel W. Jean at the Cameron Road address.

Other records show that Jean, 37, has previously been the subject of two smaller tax liens filed against him by the State of New Jersey and the New York State Tax Commission, both of which were eventually satisfied.

Following the Haitian earthquake, TSG reported on Jean’s questionable handling of the finances of his charitable foundation. Along with filing tax returns years late, Jean used his foundation to pay himself and a business partner more than $410,000 for rent, production services, and Jean's appearance at a benefit concert.