Monthly Archives: May 2010

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Kevin Mitchell, former San Diego Padres baseball slugger, owes $5.3 Million in Back Taxes to California

Homerun-bashing San Diego Padres bad boy Kevin Mitchell, a member of the 1986 World Series champion New York Mets and the 1989 National League MVP, owes more than $5.2 million in delinquent state taxes, records in California show. Kevin Mitchell was paid an estimated $20 million during a 14-year major-league career with the Mets, San Diego Padres, San Francisco Giants, and five other teams. Mitchell, a native San Diegan and now 48, had a stellar career early on with the Mets and Padres. Kevin Mitchell needs today to find real tax relief in California. Clearly, Mitchell mismanaged his [...]

Expansion of the Enterprise Zone in the San Fernando Valley Generates Unexpected Payroll Tax Problems

When California officials approved the request by Los Angeles to expand the city’s “enterprise zone” in the San Fernando Valley, they failed to foretell the challenges of business growth in a down economy. As new and existing businesses receive tax breaks, they can expand too quickly, leading to sudden financial challenges and payroll tax problems. Although supportive of business growth, the Tax Resolution Institute warns businesses to go slow upon receiving tax breaks in a down economy. When financial pressure rises in a recession, a company will often make the mistake of stealing from Peter to pay Paul [...]

May 25th, 2010|Payroll Tax Problems, Tax Resolution|

Poker Superstar Michael Mizrachi Has A Tax Lien Filed Against Him By The IRS And Owes $339,000 In Back Taxes

Michael "The Grinder" Mizrachi finds himself in a real serious bind these days.  The Sun Sentinel out of Fort Lauderdale reports that Mizrachi owes $339,000 in back taxes and had a tax lien filed against him by the IRS. In addition, Mizrachi lost his Hollywood, Florida home to foreclosure via an online auction last week.  Another home in Miramur was foreclosed on and sold as well, according to court records. Both properties were assessed this year at less than half of their purchase price. If Mizrachi had contacted a tax professional before the back tax debts with the IRS [...]

IRS Bounty: Connecticut Lawyer Convicted of Tax Evasion For Failing To Pay Income Taxes

David Thomas tried to outsmart the IRS by failing to report more than $120,000 in income. On May 14, long after the IRS had uncovered the lawyer’s extensive tax evasion in 2004 and 2005, U. S. District Court in Connecticut sentenced Thomas to three years of probation. Thomas, who has resigned from the practice of law, must pay over $80,000 in back taxes, penalties and interest. In addition, Thomas, 56, was ordered to perform 150 hours of community service after he pleaded guilty to one count of filing a false federal tax return. If David Thomas had been [...]

With A Tax Lien Filed Against Him In 2009, Rush Hour Star Chris Tucker Has A $3.6 Million Tax Bill In California

According to the Detroit News, less than a year ago, Chris Tucker, the Rush Hour star, had a $3,594,409 tax lien filed against him by California tax officials in Sacramento County Court. Tucker owes the taxes for the years 2001-02 and 2004-07 when he was actually making movies. Since he has not made a film since Rush Hour 3, it is hoped that Tucker saved enough from his $20 million dollar pay days to cover the tax lien. If not, the Rush Hour star with a criminal history could find some of his expensive luxury assets seized or he might have [...]

Titanic Star Billy Zane Has A State Tax Lien For Over $115,000 Filed Against Him In California

Although Billy Zane achieved world-wide fame for playing the bad guy opposite Leonardo Dicaprio and Kate Winslet in the blockbuster James Cameron film, Titanic, the actor is sinking after crashing into a California Franchise Tax Board iceberg. California tax officials filed a state tax lien against Billy Zane after he fell behind on his payments concerning a back tax debt. As a result, the actor is in a serious tax crisis in regards to his delinquent state tax bill to the California Franchise Tax Board. The Titanic co-star has had the state tax lien filed against him, accusing [...]

Payroll Taxes and the Threat Against the Tax-Exempt Status of Non-Profits

Without question, nonprofits provide important services that improve the lives of individuals, families, and communities. From large social service and cultural organizations to small community health centers and food pantries, nonprofits occupy a unique position in the American economy and society at large. As a result, the sector was designed, by its nature, to be tax-exempt, allowing organizations to maximize their impact. Nonprofits already are under enormous strain to cover their payroll taxes without losing workers and reducing services. Nationally, 14 million people work for nonprofits — that's seven percent of all jobs in the U.S. One has to consider [...]

Orange County Billionaire’s Son Owes Over Two Million Dollars In Delinquent Income Taxes

When the California Franchise Tax Board released the annual list of the top 250 taxpayers with the highest state income tax liens, former Grand Prix Racing champion Steve Bren finished in the 18th spot. The son of billionaire Irvine Co. chairman Donald Bren, Steve and Cynthia Bren owe $2,209561.23 in personal income tax to the state of California and the state tax lien was filed on March 20, 2009. With California in a financial crush, the Franchise Tax Board is going after delinquent taxpayers with a renewed focus. By failing to contact a tax professional like the tax experts at [...]