Monthly Archives: April 2010

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Royal Tax Evasion: Prince Owes More Than $500,000 In Back Taxes

Prince owes more than $500,000 in back taxes, interest and fines on a dozen properties, including $221,891.88 on Paisley Park Studios in Chanhassen, where the Minneapolis-born rock and film star also has a home. Prince is among dozens of other delinquent property taxes owed by property owners in the county who owe taxes due in 2009 and had their names and property information published in the Chaska Herald last week. Officials in the star's hometown of Minneapolis, Minnesota claim Prince and his PRN Music Corp. owe more than $500,000 in taxes, fines and interest relating to the singer's properties in [...]

Patent Lawyer in Century City Fails To Pay Payroll Taxes and Income Taxes After Million Dollar Settlement

To begin with, the Tax Resolution Institute respects the privacy of our clients. As a result, certain details have been changed and specific information in regards to this piece has been obscured in order to maintain anonymity. A major patent lawyer in Century City found himself in major tax trouble with the Internal revenue Service after winning a huge settlement for a client inventor. Since the settlement was delivered at the beginning of the summer, the patent lawyer figured he had plenty of time to cover his income taxes and the unpaid payroll taxes due on his percentage [...]

The Success of Irvine Leads To Irvine Payroll Tax Problems

You would not think that Irvine payroll tax problems are so common. Irvine, California, is quickly becoming one of the most successful and envied cities in America. Located in the heart of Southern California's "Technology Coast" and Orange County, Irvine is renowned for its dynamic business environment. As a result, in the past ten years, there has been an explosion of new companies of all sizes in Irvine. During the present economic crunch, many of these new companies may be finding it hard to make ends meet. If a new company starts skipping on covering their payroll taxes, it quickly [...]

Notorious: The IRS Files Three Tax Liens Against Rap Star Faith Evans For A Total of $360,000 in Back Taxes

Faith Evans is the latest celebrity added to the growing list of people with big tax debts and delinquent tax problems with the IRS. The ex-wife of the late rap superstar Christopher “Notorious Big” Wallace and the former first lady of Bad Boy records, Evans is facing a total of $360,000 in back taxes owed to the IRS. The delinquent tax debt owed stems from tax liens filed against Evans in Los Angeles, New York and New Jersey. According to The Detroit Press and public records, the IRS filed a $36,360 lien against Faith March 4 in New [...]

The California Franchise Tax Board Is Coming After You To Cover $18.9 Billion In Wasted Your Tax Dollars

If you have a tax debt in California, you should be ready to take action. With the state treasury nearly bankrupt, the California Franchise Tax Board has been directed to go after delinquent tax bills. Why is this modern witch-hunt taking place today? The state government of California squandered $18.9 billion over the past 10 years due to government waste, fraud and mismanagement. The $18.9 billion figure comes from a new California Taxpayers’ Association Research Bulletin, “A Decade of Waste, Fraud and Mismanagement,” which is based on the media’s investigative reporting, government audits, court documents and other sources of information. [...]

10 Mistakes To Avoid When Doing Your Taxes

With tax right around the corner, the Tax Resolution Institute is happy to provide you with a list of 10 common mistakes to avoid when preparing your taxes. If you owe over $50,000 in taxes this year or a back tax bill and you cannot pay, please contact TRI so we can find a solution for you. 1. Forgetting of not knowing about the "making work pay" credit. This was President Obama's tax-cutting pledge on the campaign trail. It is now a reality, worth up to $400 per worker. People haven not learned how to claim the credit properly. As [...]

Thomas “Hitman” Hearns Forced to Auction His Personal Property to Pay IRS Tax Debt

Thomas "Hitman" Hearns was forced to auction his personal belongings and memorabilia to help him pay off a $448,000 IRS tax debt. Hearns held WBA, WBC, and IBO titles in multiple divisions between 1980 and 1999. His three-round loss to Marvin Hagler for the middleweight title in 1985 is considered one of the best bouts in boxing history. The tax troubles faced by Hearns are all too common for high profile celebrity athletes and actors on account of the expense of entourages and poor business management. Although the 51-year-old Hearns said he did not yet know how much [...]

Celebrity Chef Gordon Ramsay Is Listed As One Of New York City’s Worst Delinquent Tax Payers

Like celebrity comic Sinbad and singer Dionne Warwick with the California Franchise Tax Board, British celebrity chef Gordon Ramsay has been named one of the city’s worst “delinquent tax payers” by officials in New York. Ramsay’s business empire has suffered in the recent economic downturn. In fact, in 2009, he was advised to file for bankruptcy because of his debt that was spiraling out of control. The reality star of the hit Fox television show Hell’s Kitchen, managed to stave off the tax man by pumping $8 million of his own money into his businesses. Nevertheless, it seems like a [...]