Pop singer Aaron Carter, the younger brother of Nick Carter of the Backstreet Boys, has had two tax liens filed against him by the IRS for a total of over one million dollars in back taxes. Recently in the news crying on Dancing With The Stars after having his moves criticized by the judges, Aaron Carter now really has something to cry about. Having been eliminated as a contestant on the hit show, the teen idol will have to figure out a new way to raise the money to pay his back tax debt.
Aaron Carter's Tax Liens
After experiencing a history of criminal business management, Carter needs the help of a respected tax professional like Peter Stephan and the Tax Resolution Institute. With Peter Stephan by his side, Carter possibly can negotiate an Offer in Compromise or an Installment Agreement that will allow him to reasonably pay off the back tax debt without doing more damage to his reputation and his financial future. If Carter had been with Creative Arts Management, the business arm of TRI, his security would have been ensured through proper financial management.
The former teen idol reportedly owes the Internal Revenue Service more than $1 million in back taxes, including $963,000 on his 2003 income, according to the New York Post. In addition, to round off the amount owed to a cool million, he also owes $45,350.11 on his 2006 income taxes. Aaron Carter, like his older brother, had a successful recording career as a teenager. He also starred in the E! Reality series, House of Carter, with his four siblings. His current manager, Johnny Wright, told Entertainment Tonight, “It is unfortunate that while Aaron was a minor, his finances were grossly mismanaged by his previous team which has led to the current situation of which he was unaware of until today.”
Aaron Carter is known for media reports regarding his personal life, including his relationships with Hilary Duff and Lindsay Lohan, and his past legal problems, some involving his suing for emancipation from his mother as a minor. None of these problems, however, threaten his financial future like this new tax crisis with the IRS and the tax liens filed against him. With his family back in his corner, Carter is waging a publicity campaign to explain how he is the victim of a criminal manager who took advantage of a child performer.
Carter’s parents filed a lawsuit against former manager Lou Pearlman alleging that he failed to pay hundreds of thousands of dollars in royalties on Carter’s 1998 album. Pearlman, who discovered both the Backstreet Boys and *NSYNC, was declared in contempt of court in 2003 for ignoring a court order to produce documents related to the royalty payments. He is currently in federal prison serving a 25-year sentence related to a $300 million Ponzi scheme.
It is clear that what Aaron Carter truly needs is reliable and effective business and tax management in his corner, helping him to deal with the present tax problems and avoid future difficulties. Peter Stephan and the Tax Resolution Institute are not only about the diagnosis and treatment of severe tax problems; they also focus on prevention through business and asset management.
Despite the flood of bad press, former Dancing With the Stars partner Karina Smirnoff says that Carter is handling it well. Noting his age at the time of the tax bills, she added, “I don’t see why he can be held responsible. He was a baby when all that… happened.” With Peter Stephan and Creative Arts Management in his corner, Aaron Carter can guarantee that such a tax crisis will never happen again. Beyond the treatment of tax resolution to deal with the current crisis, CAM offers the preventive measures of healthy and reliable business management for an entertainer like Aaron Carter.
Aaron Carter Tearing Up on Dancing With The Stars