Is Wesley Snipes Guilty Of Tax Evasion Or The Victim Of Criminal Financial Management And Tax Planning?

Is Wesley Snipes really guilty of criminal tax evasion or was the star unaware of what was happening because he was the victim of bad financial management? Since Ken Starr, his former investment advisor and financial manager has been indicted for a Ponzi scheme that reflects Bernard Madoff’s crimes, shouldn’t Snipes be given the benefit of the doubt and a new trial? The serious income tax problems of Wesley Snipes could have been avoided with capable tax planning and management.

If Wesley Snipes had placed his financial management and tax planning in the capable hands of Creative Artists Management, all of these negative consequences never would have arisen. By failing to align themselves with trustworthy advisors, Hollywood celebrities have a striking tendency to fall victim to business charlatans and financial schemes that land them in hot water. In addition, the Tax Resolution Institute has helped many celebrity and ultra-wealthy clients (who always remain anonymous so their privacy is protected) out of serious tax problems and tax relief challenges.

Is Wesley Snipes a Victim of a Criminal Tax Planner?

Is Wesley Snipes a Victim of a Criminal Tax Planner?

Wesley Snipes’ attorneys are hoping his former financial adviser Ken Starr’s arrest could pave the way for a new trial on tax evasion charges that landed the star of the “Blade” trilogy a three-year prison sentence. Snipes has been seeking to have his conviction overturned, but now his attorneys want to file a new appeal based on the arrest of Ken Starr. Starr, the one-time financial adviser to Snipes and other celebrities, was charged in May with securities fraud worth $59 million. Did the IRS believe the testimony of Ken Starr, turning Wesley Snipes from the financial victim into the tax debt fall guy?

Ken Starr was a key witness in Snipes’ 2008 trial, and Snipes claims that Starr lied when he testified that he told the movie star to file tax returns and ignore the advice he got from an anti-tax outfit. Snipes’ attorneys asked the 11th Circuit Court of Appeals in a motion filed Wednesday to stop considering the pending appeal and instead allow his attorneys to file a new request to either dismiss the conviction or grant Snipes a new trial in light of his adviser’s arrest. The motion contends that prosecutors knew that Starr, who has pleaded not guilty, was under federal investigation for tax violations of his own when he testified against Snipes in January 2008. Defense attorneys said in the filing such an investigation damages Starr’s credibility.

The actor was convicted of three misdemeanor counts of willful failure to file his income tax returns and sentenced in April 2008 in what was considered a key victory for prosecutors who aggressively pursued the maximum penalty to deter others from trying to obstruct the Internal Revenue Service. Prosecutors say he made at least $13.8 million over three years and owed $2.7 million in back taxes that he refused to pay. And Snipes, who is free on bail while he appeals, apologized at the time and said he was an idealistic artist who was “unschooled in the science of law and finance.”

The Criminal Financial Management & Tax Planning of Ken Starr

The Criminal Tax Planning of Ken Starr

Who is Ken Starr? Until the New York money manager grabbed headlines as the alleged center of a $30 million Ponzi scheme, Starr operated in the shadows, despite an A-list client list that included Martin Scorsese, Uma Thurman and Sylvester Stallone. If anything, the flashiest thing about the 66-year-old Starr was his wife, the ex-stripper Dawn Passage and his $7.5 million Manhattan condominium with a 32-foot lap pool that Starr purportedly used his clients’ money to buy. Following a long-running investigation by the Internal Revenue Services’ criminal investigation division, Starr was arrested at his Upper East Side apartment while hiding in a closet. He is currently charged on three counts — wire fraud, fraud by an investment advisor and money laundering — and is being held without bail.

Much like Bernard L. Madoff, who is serving a 150-year sentence for bilking tens of billions of dollars from his closely knit network of clients, Ken Starr cultivated business at charity events and lavish parties, bridging the worlds of New York and Hollywood to build a star-studded client list of socialites, financiers, philanthropists, A-list actors and Hall of Fame athletes. Starr used his access to famous and powerful clients “to burnish an image of trustworthiness, leading his clients to entrust him with management and control of their financial affairs,” sometimes assuming “total control” over their financial lives. Did Snipes give Starr such control?

Why would a powerful Hollywood star allow a financial advisor to control all of their finances, setting up shell companies and making questionable investments? Although Wesley Snipes is a capable actor, there is a certain truth to his claim that he is unschooled when it comes to business. Given Ken Starr’s charm — the persuasive power of a con man — and his high-end connections in celebrity circles, it is not surprising that Snipes gave away so much control.

Unlike Ken Starr, the founders of Creative Artists Management and the Tax Resolution Institute do not mingle at parties and events with Hollywood stars and celebrities. Instead, they focus on doing the business of their jobs and focusing on their work: Secure Financial Management and Reliable Tax Planning. Yes, the goal of Creative Arts Management is to make money for our clients, but without ever placing our client’s future security at risk or in any kind of jeopardy.

In an up and down economy, wealthy clients need to know their financial interests are protected. If Wesley Snipes had ignored the pomp and circumstance of Ken Starr and made the levelheaded choice of Creative Arts Management and the Tax Resolution Institute, the star’s name would be clean. Snipes only would have been in the papers in relation to action in his movies and not criminal tax evasion

Peter Y. Stephan

About Peter Y. Stephan

Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.

Tax Resolution Institute Reduces San Francisco Petroleum Executive’s Tax Liability By $120,000

The Tax Resolution Institute was able to lower the back tax liability of a San Francisco Petroleum Executive by $120,000. By employing federal tax expertise and experience with the IRS, we were able to protect or client from an incorrect assessment after a tax shelter was disallowed. If you need help with a big income tax debt or problem, check out the details of this account. Most likely, we can help you as well and provide real tax relief.

An Executive Tax Shelter Disallowed

An Executive Tax Shelter Disallowed

The Petroleum Company President recommended that the Executive enter into a major tax shelter. Although the Petroleum Company accountants estimated a less than 50% chance of shelter being viable, the company applied the pressure. When the president of a company recommends something to you, such a recommendation should be considered more of an exclamation point than a question mark. Knowing he had to go along in order to keep in good standing with the company, the Executive invested in the tax shelter despite initial misgivings.

Ultimately, it turned out that his initial misgivings were right on target. Seven years after the tax shelter was created, the IRS reviewed and disallowed it. All of the executive who took part in the tax shelter were considered full partners. As a result, he IRS assessed the tax liability across the board equally. Such an assessment, however, turned out to be incorrect when it came to the future client of TRI.

The Shock of an Incorrect Tax Liability Assessment

The Shock of an Incorrect Tax Liability Assessment

Our executive client who had the initial misgivings chose to stop taking the allowed deductions from the shelter after the first three years. Unlike his partners who had continued to take the personal income tax deductions for the entire period, his liability should have been significantly less. Since the IRS had assessed the liability as a whole, the back taxes owed by the Petroleum executive were much greater than what he had actually received in deductions taken from the tax shelter.

A major challenge is once a penalty has been assessed, the IRS does not want to admit that an assessment is ever wrong. Even when an inconsistency or problem is pointed out, changing the assessed amount remains difficult. Luckily, the San Francisco Petroleum Executive came to the Tax Resolution Institute. With years of experience handling such incorrect assessments, our tax experts knew what to do.

TRI's Helping Hand and Tax Relief

TRI's Helping Hand and Tax Relief

After intense negotiations and the filing of an amended tax return, the TRI Tax Experts appointed to the case were able to have the Petroleum executive’s tax liability pro-rated. In the end, after the new assessment, the amount owed in back taxes due to the disallowed tax shelter was reduced by approximately $120,000 in light of the actual tax deductions taken. If you are in tax trouble with the IRS and need tax relief, please contact us and we can help you. In truth, as the largest collection agency in the world, the IRS often makes mistake when it comes to assessments. The goal of the Tax Resolution Institute is to amend such mistakes in order to protect your financial future and the security of your assets. If you need tax resolution services, feel free to call the Tax Resolution Institute at 800-401-5926 or fill out our  tax resolution form.

Peter Y. Stephan

About Peter Y. Stephan

Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.

With California’s Tax Rates, The Los Angeles Lakers Almost Lost Lamar Odom And A Repeat As NBA Champions

California’s tax almost cost the Los Angeles Lakers a star player and the chance to repeat as NBA Champions. An essential piece to their puzzle, Lamar Odom was on the verge of leaving LA and sign with another team in the off-season. After all, Lamar Odom soon married Khloe Kardashian and needed serious finances to support his beautiful young bride with expensive tastes. There has long been a dispute about why high-income people leave California. Some say that high taxation and regulation drive businesses and rich people out of the state. The Tax Resolution Institute has a business development side that is designed to address such concerns. Creative Arts Management helps wealthy individuals and companies with effective tax planning and business management. Such money-saving services could save Lamar Odom a tremendous amount of money.

Lamar Odom Almost Left To Avoid California Taxes

Lamar Odom Almost Left To Avoid California Taxes

Lamar Odom is an extraordinarily versatile player, capable of playing any position on the floor and has been invaluable to the champion Lakers. Odom almost did not re-sign with the Lakers: He and his agent were slow to respond to an initial contract offer from team owner Jerry Buss, who responded by pulling the offer. The contract negotiations were tense at best. Finally, he signed, but not with the smile he had on his face after they won their second championship last week. What Odom needed were reassurances from an experienced business manager and tax-planning expert that his finances would be properly handled. This is the exact focus of Creative Arts Management and the Tax Resolution Institute. Beyond helping clients in tax trouble, the business experts make sure long-term clients are in safe and profitable positions.

The Miami Heat launched an aggressive bid to steal Odom away. By all accounts, the Lakers offered more money than the Heat, but in California, Odom pays the highest rate of 10.55 percent. Florida has no state income tax. According to published reports, the Heat emphasized in negotiations that the California taxes negate much of the financial advantage of the Lakers’ offer. Here were the numbers: Odom accepted a big offer from the Lakers: $9 million a season for 4 seasons that could force Odom to pay state income taxes of more than $3.6 million. However, if Odom’s finances are handled by a tax professional with precise tax planning, such huge tax bills could be significantly lowered.

The Financial and Tax Planning of Creative Arts Management

The Financial and Tax Planning of Creative Arts Management

The Heat offer was less financially generous annually—a reported $34 million over 5 seasons. But its total value was higher because of the number of years – and because Florida has no state income tax. When considered on an annual basis, the California taxes cut the difference in value of each offer almost in half (though the Lakers’ offers was actually more generous on an annual basis). Luckily, Odom overcame his reluctance, signed with Los Angeles, and the Lakers beat the Celtics in an exciting seven game series to win the NBA Championship. Without Lamar Odom and a second championship title, Los Angeles Laker fans would have been angry – not only at their team but also at Sacramento. If Odom and other high income individuals comes to Creative Arts Management and the Tax Resolution Institute, there financial worries can be transformed into secure profitability and future viability.

An Essential Piece of the Champion Los Angeles Lakers

An Essential Piece of the Champion Los Angeles Lakers

Peter Y. Stephan

About Peter Y. Stephan

Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.

San Jose Executive With Payroll Tax Problems Calls TRI Before His 4180 Interview To Determine Responsibility

At a San Jose High Tech Firm in Silicon Valley that was hit hard by the recession, a Director of Operations found himself with serious federal payroll tax problems. He had been called in by the IRS for a 4180 interview which determines who is responsible for the Trust Fund portion of unpaid payroll taxes. Since the IRS demands that the entire Trust Fund portion of back payroll taxes be paid, there is no escaping the debt by the party made responsible for the Trust Fund. As a result, it is essential that if you have a serious payroll tax problem, you contact the Tax Resolution Institute prior to the 4180 Interview. By arguing that the Director of Operations did not exercise “willful intent” with regard to his company’s unpaid payroll taxes, Peter Stephan was able to have the San Jose Executive removed as a “responsible person”.

San Jose Executive And The Danger of Payroll Taxes

San Jose Executive And The Danger of Payroll Taxes

The last action you ever want to take is to attend a Trust Fund Penalty interview without professional qualified representation by your side. Not only do you need to be prepared for such an interview, you need Peter Stephan and the trusted expertise and long-term experience of the Tax Resolution Institute guiding you through this potential minefield. A single misstep can lead to you being personally responsible for paying a potentially large sum of money that is extremely hard to abate.

You must remember that the IRS only has three years to assess “responsible persons” for a Trust Fund Penalty. As a result, the IRS Revenue Officers are relentless and lack the flexibility they often show in other types of Income Tax cases. Since they are so strict and determined when it comes to Unpaid Payroll Taxes, the IRS Revenue Agents attempt to include as many people as possible when determining who is a “responsible person” and attempt maximize the amount considered to be the “Trust Fund” portion of the taxes, penalties, and interest owed. Keep in mind that Trust Fund Recovery Penalties are not dischargeable through bankruptcy. Once you are held liable for the debt, escape is near impossible.

IRS 4180 Interview And Trust Fund Responsibility

IRS 4180 Interview And Trust Fund Responsibility

The outcome for the San Jose Executive could have been a disaster. The effects of the recession on the company he worked for and the mistaken choices made by the decision makers could have resulted in the end of his financial security and future economic viability. Although he was one of several executives on the Bank Signature Card for the company, he was not the responsible party when it came to the Trust Fund Recovery. By contacting Peter Stephan and the Tax Resolution Institute before his 4180 Interview and not after, he was able to ensure that a bad situation did not become worse. Payroll Tax and Trust Fund Recovery cases are a definite challenge, and no easy solutions are ever guaranteed. However, if you contact Peter Stephan before your 4180 Interview and not after, you could find real tax relief like the San Jose Operations Director and free yourself from the responsibility for the Trust Fund Recovery.

Peter Y. Stephan

About Peter Y. Stephan

Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.

Still Hooked: A Bungled Offer In Compromise In San Jose Leads To An Angry Taxpayer Finding Tax Relief With TRI

When it comes to an Offer in Compromise, there are no “Do-Overs” as a new Tax Resolution Institute client in San Jose found out after having his delinquent tax account poorly handled by an incompetent tax professional. For a qualified tax professional like the tax experts at TRI, an Offer in Compromise is an essential tool to help resolve a client’s tax problems with the Internal Revenue Service.

A Bungled Offer In Compromise In San Jose

A Bungled Offer In Compromise In San Jose

When handled properly, an Offer in Compromise can lead to tax relief and future financial freedom for an embattled client with serious tax debts. If mishandled, a failed Offer in Compromise can make a bad delinquent tax situation that much worse. As a result, it is essential for taxpayers in trouble to choose a well-qualified tax professional with an excellent reputation of obtaining tax relief for clients like the Tax Resolution Institute.

When the tax company in San Jose screwed up the taxpayer’s Offer in Compromise, he was out both the money he paid them and the $150 application fee paid to the IRS.  In addition, he was still on the hook to the Internal Revenue Service. There is no credit at the IRS for a poorly handled OIC. Not only is taxpayer out the $150 application fee, they were also out the 20% down payment, the first of what was going to be his “periodic payments” on a successful deal when the offer was no accepted. In addition, he still owed the bulk of his back tax debt, including more penalties and interest.

Tax Problems of Silicon Valley in San Jose

Tax Problems of Silicon Valley in San Jose

As the tenth largest city in the United States and the largest city in Northern California, San Jose is a major Metropolitan center. As a consequence, San Jose suffers from the positives and the negatives of any such city. In the 1990s, San Jose’s location within the booming local technology industry earned the city the nickname Capital of Silicon Valley. Along with the vast success of the technology industry, a number of second-rate charlatans set-up business in a variety of subsidiary industries, including tax resolution.

Although the anonymity of our client remains a number one priority, it is important to know that he was an extremely successful technology executive. When he tried to start his own business with an inflow of capitol, he did not set-aside enough money to pay his income taxes with the IRS. After the business became a victim of the recessionary California economy, our client found himself in a bind with no money to cover his huge tax bill. What remains so upsetting is that he was taken advantage of and financially abused by a second-rate and so-called tax professional in his time of need. After what happened with the failed Offer In Compromise, our future client was angry, financially hurt and still on the hook for his delinquent tax debt with the IRS.

Luckily, the client found the Tax Resolution Institute online and was able to obtain real tax resolution from our tax experts before a bad situation turned into a catastrophe. Rather than negotiating another Offer In Compromise, the Tax Resolution Institute worked out a positive Installment Agreement for the client with the IRS that focused on the body of the tax debt and wiped away the interest and penalties. Back at work in San Jose and doing better, the client expressed real gratitude that he was able to find an answer to his tax problems and real tax relief that worked.

Peter Y. Stephan

About Peter Y. Stephan

Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.

Tax Relief Success in Sacramento: The California Franchise Tax Board Refunds Bank Levy To Taxpayer

For the Tax Resolution Institute, nothing is as satisfying as when we can provide real tax relief success for taxpayers that come to us for help. Before we dive into the true story, we want to note that certain details have been altered to protect the privacy of our client. The Tax Resolution Institute will never violate a client’s right to privacy and anonymity.

Recently, we received a letter from a happy Sacramento taxpayer who had received a large refund from the California Franchise Tax Board. What is so rewarding is that money that was previously levied by mistake was refunded in full to the client after the Tax Resolution Institute successfully handled his tax problem.

In the letter, the happy Sacramento client who had been facing huge income tax problems with both the California Franchise Tax Board and the IRS expressed his gratitude when he kindly wrote:

“I just wanted to drop you a line to let you know that the State of California has just sent us, not one, but two refund checks.  I take this to mean that the issue with them is resolved. Great job and thanks!”

Tax Relief Success For A Sacramento Taxpayer

Tax Relief Success For A Sacramento Taxpayer

When the Sacramento taxpayer first came to us, he owed a bundle of taxes, penalties and interests for various unfilled personal income tax returns. By the time the Tax Resolution Institute became involved, the client’s bank accounts were being levied by the California Franchise Tax Board to cover the unpaid state tax bill. Right away, the Tax Resolution Institute took action to protect the future financial security of our client.

By taking action on the delinquent tax debts, we stopped the IRS and local state taxing agencies from further levying his bank accounts or garnishing his wages. Without this action, the enforcement actions eventually would have expanded into possible asset seizures. The Tax Resolution Institute went through and prepared the unfiled tax returns. The preparation and submission of the unfiled returns took place on both the Federal and the State level.

With the Federal Taxes, the Tax Resolution Institute negotiated a successful Installment Agreement for the delinquent tax debts. Wiping away the penalties and interests, the taxpayer received a payment plan that fit into his economic timetable. The Installment Agreement was workable and secure, satisfying all the parties involved.

California Franchise Tax Board Refund

California Franchise Tax Board Refund

The real tax resolution success came when the unfiled tax returns were filed with the California Franchise Tax Board. Upon accepting and processing the tax returns, the Tax Compliance Officer that not only did the client not owe any more money, but they actually were due a refund. In addition, the client’s bank accounts had been improperly levied and they were due a refund for the money that previously had been levied.

What a success for the Sacramento taxpayer! Thanks to the Tax Resolution Institute, no more enforcement actions were taken against them and they received two refund checks from the State of California. If you have a serious state or federal income tax problem, don’t you deserve to find out whether such positive tax relief is a real possibility for you?

Peter Y. Stephan

About Peter Y. Stephan

Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.

Tax Resolution Expert Markwei Boye Analyzes Income Tax and Payroll Tax Problems in Detroit & Michigan

As the recession continues to hit both American taxpayers and companies, the Tax Resolution Institute is talking with tax experts around the country about rising income tax problems and payroll tax difficulties. By contacting tax professionals with valuable information, TRI will increase the value of this ongoing blog by providing you with the edge you need in these challenging times. To start this series, our first discussion was with Markwei Boye, a respected Enrolled Agent from Detroit who recently started a Tax Resolution Service Blog to address these rising concerns.

Tax Resolution Specialist Markwei Boye

Tax Resolution Specialist Markwei Boye

With a Masters in Business Administration (MBA) from Wayne State University, Markwei Boye is a member of the Registered Financial Planning Institute, National Association of Enrolled Agents, National Association of Tax Professionals and National Society of Accountants. An Adjunct professor at Cornerstone University School of Business, Markwei Boye is the founder and owner of Smart Business International PLLC, which was established in Detroit in 1995 as a small business accounting and tax-consulting firm.

With the American auto industry in crisis, the city of Detroit and, to an even greater extent, the state of Michigan have been hit hard by the recessionary economy. Boye explains that his company has been receiving calls left and right from former automobile workers in tax crisis. Many of the workers in the auto plants agreed to a buyout plan when the plants closed. Unfortunately, most ended up spending all of the money without taking into consideration their future tax bill. Today, they find themselves unemployed with no job prospects, and they cannot pay their income tax bill. In addition, many of these American workers have lost their homes.

Like the Tax Resolution Institute, Markwei Boye offers these people a variety of effective tax solutions. “Many taxpayers do not realize that just about everything is negotiable with the IRS,” said Boye. “We can help substantially reduce your back tax debt with an affordable payment plan. We have years of experience submitting Offers in Compromise to obtain a final settlement of all taxes, penalties and interest.” If the individual is completely tapped out and an Offer in Compromise is not an option, Boye has the tax account classified with the IRS as Code 53, otherwise known as Currently Not Collectible.

Payroll Tax Problems Darken Detroit

Payroll Tax Problems Darken Detroit

In terms of payroll tax problems, Markwei Boye has seen a sharp rise in Detroit and Michigan as a whole. The majority of the companies are tied to the automotive industry. Since the plants have been shut down, tons of subsidiary businesses that relied on the success of the auto industry have been thrown into crisis. Once these companies started having financial difficulties, they went into panic mode and cut corners when it came to covering the trust fund of their payroll taxes. As the Tax Resolution Institute has expressed in the past, cutting these corners is often a death-knell for a company.

Since most of the companies Boye works with have already gone under, he focuses on working with the IRS to no longer make them responsible parties for the matching portion of the Trust Fund. When asked if the IRS has become more aggressive and difficult in terms of Payroll taxes, Boye explains that most IRS Revenue Officers just want to collect the Trust Fund and close a case. Instead of being more aggressive, the IRS is often more reasonable, willing to waive the penalties and interest in order to settle a case.

Markwei Boye explains that whenever he tells an IRS Revenue Officer that he is calling about a client in Michigan, they immediately become more reasonable. Recognizing the recessionary crisis brought on by the automobile industry, the IRS is willing to compromise. The problem is that a majority of taxpayers with income tax problems and companies with payroll tax problems take what Markwei Boye calls the Ostrich approach. They stick their head in the sand and hope the problem magically will go away. But the IRS and tax problems never just go away. They only get worse unless they are properly handled by a tax professional like the tax experts at the Tax Resolution Institute.

Peter Y. Stephan

About Peter Y. Stephan

Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.

Released from Prison for Income Tax Evasion, R&B Icon Ron Isley has to pay $3.1 Million in Back Taxes to the IRS

Released from prison after completing a three-year sentence for income tax evasion, R&B icon Ron Isley of the legendary group The Isley Brothers, still has to pay off his back tax debt to the Internal Revenue Service. The 68-year-old singer was released on April 13, after a 2006 trial found him guilty of five counts of tax evasion and one count of willful failure to file a tax return. Isley was also ordered to pay $3.1 million in back taxes to the Internal Revenue Service.

R&B Icon Ron isley faces His Back Tax Debt

R&B Icon Ron isley faces His Back Tax Debt

Isley’s tax crisis never had to become so extreme and damaging. If he had contacted a tax professional as opposed to evading his tax payments, he would never have gone to prison. In addition, the tax experts at the Tax Resolution Institute could have found a payment solution for the famous singer.

The Hollywood Reporter reported that Isley was sentenced to 37 months in prison, instead of the maximum sentence, which would have sent him to jail for 26 years. Isley was imprisoned at a Federal Correctional Institution, and then completed his sentence in a halfway house following an early departure last October. The ‘Contagious’ singer requested a reduced sentence for health issues – he cited complications from a stroke and a bout with kidney cancer, but ultimately it was denied because the judge deduced that Isley was a “serial tax avoider.” If you are a serial tax avoider, please contact the Tax Resolution Institute and take action today.

Ronald Isley’s career allows for one of the best musical equivalents of the Kevin Bacon pop culture phenomenon “Six Degrees of Separation.” With brothers Vernon, O’Kelly and Rudolph and under the family moniker, Isley first landed on the pop music charts with the perennial party favorite “Shout” in 1959. Three years later, they beat the Beatles up the charts with their version of “Twist and Shout.”  The brothers’ later maturation as R&B and soul masters was arguably instrumental in pushing the evolutions of the genres themselves.

Income Tax Evasion Is A Lose-Lose Proposition

Income Tax Evasion Is A Lose-Lose Proposition

After being released, Isley was interviewed by comedian Steve Harvey.  Isley said: “I’m overjoyed to be home and to be able to do everything that I want to do. I’m in love with this record business and I’m in love with the fans and everything and I just couldn’t wait to get back to doing that. I’ve been thinking about it for 3 years and wondering what it was gone be like. It changed me a whole lot” The singer performed for the first time after being released on May 8 at a reunion concert in Atlantic City with his brothers.

Nevertheless, Isley greatly regrets his serial tax evasion that led to prison. It damaged his family, his career and his reputation with a permanent stain that can never be removed. Before you find yourself in such desperate tax straits, contact the Tax Resolution Institute. If you take action today, tax relief can be a possibility for you.

Peter Y. Stephan

About Peter Y. Stephan

Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.