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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 to have an auction like boxer Thomas Hearns to cover the tax bill. With a criminal history, Tucker needs to put these problems behind him.

Tax Lien Filed Against Chris Tucker

Tax Lien Filed Against Chris Tucker

Tucker is the latest celebrity to be named and shamed as indebted to the already financially struggling state. Finding fame in Friday with Ice Cube and the Rush Hour films with Jackie Chan, Tucker became infamous for being extremely difficult to work with on a movie set, throwing tantrums and screaming fits. Even though he has made millions in earnings he has failed to be compliant with California tax laws for several years now and that has just all caught up with him.

Since California is in such a drastic financial crisis, they are coming after delinquent taxpayers with a vengeance. The California Franchise Tax Board has been given a mission to collect all delinquent tax bills owed so they can help the state rescue itself from the financial crisis. Supposedly, Tucker has been talking to Ice Cube about starring in a third movie to complete the Friday. In addition, it has been rumored that Quentin Tarantino wants to make a war movie with Tucker and Brett Ratner is developing a film with Tucker about the personal valet to Frank Sinatra.

Chris Tucker Owes Back Taxes To California FTB

Chris Tucker Owes Back Taxes To California FTB

Without question, Tucker should hop on one of these movie roles and restock his finances. In addition, he should contact a tax professional like the tax experts at the Tax Resolution Institute. Beyond having experience helping high profile celebrities with tax problems, TRI knows how to provide wealthy individuals with effective financial and tax planning so nothing bad happens in the future. With a strong hand at the wheel, Chris Tucker’s financial life can steer right back on track.

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.

California Tax Lien Filed Against Billy Zane

California Tax Lien Filed Against Billy Zane

The Titanic co-star has had the state tax lien filed against him, accusing the actor of owing $116,578 in delinquent taxes. The demand was submitted by California tax bosses in the Los Angeles County to the LA County Recorder of Deeds on March 10, 2010. First reported by Perez Hilton on his tabloid gossip site, the tax lien against Billy Zane is one more example of Hollywood royalty failing to cover their tax bills and having their delinquent taxes lead to legal action by the state tax authorities.

Having recently starred in the ABC series, The Deep End, and rumored to be preparing for his directorial debut, Zane has made no comment in response to the tax lien. In a recent appearance at an Awards Ceremony in Los Angeles, Billy Zane was happy to discuss his debut behind the camera, but avoided answering any questions about the tax lien.

On April 16, speaking at the opening night of the Beverly Hills Film Festival, the Titanic star revealed he was directing a film set in France. He said: “I’m just putting the final touches to [my] directorial debut. [It's] about a French farce diamond-heist.” Although he was willing to discuss a fictional heist, he would not venture an opinion on his tax heist against California when the state is in real financial crisis.  When asked about the debut of his film, Zane laughed: “Hopefully we’ll see it shortly, I don’t know if it’ll be here, but somewhere.”

The Weight of a State Tax Lien

The Weight of a California FTB Tax Lien

If Billy Zane does not contact a tax professional like the tax experts at the Tax Resolution Institute, his California Tax Lien could be turned into a bank levy. As a result, he might not be able to show his film in the United States since it could even be seized as a possible asset, although such an asset seizure remains unlikely. Since the bill is not beyond the actor’s ability to pay it, Billy Zane should have the Tax Resolution Institute negotiate an Offer in Compromise on his tax debt and pay the delinquent tax bill off so the state tax lien can be removed. Only then, can Billy Zane avoid the tax iceberg of his nightmares and sail into the clear waters of future success as both an actor and a director.

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 the Tax Resolution Institute, Steve Bren allowed his private tax problem to become a public tax crisis. Now Steve Brin needs real tax relief.

STEVE BREN — NO STRANGER TO CRISIS

Steve Brin Finishes As The 18th Top Delinquent Taxpayer in California

Steve Brin Finishes As The 18th Top Delinquent Taxpayer in California

Then again, Steve Bren is no stranger to crisis, and he has put his family through their fair share of scandal in the recent past. Although Bren’s Irvine-based Bacchus Development firm billed itself as “one of the premier commercial real estate firms in Orange County, they were forced to file for Chapter 11 bankruptcy last September. In addition, bad boy Steve Brin was facing drug possession, domestic violence and trespassing charges in Malibu. Since he is turning 50 next year, Steve Brin has gone from being a bad boy to being the black mark that stains the legacy of his family name.

AN AVENUE TO SUCCESS AND TAX PROBLEMS

Steve Bren felt abandoned by his successful father as a boy, and he once told an interviewer, “We were brought up without anything — anything.” He found his own success on the car racing circuit, becoming a two-time Long Beach Grand Prix winner. Although he qualified for the Indianapolis 500, he could never find a car for a qualifying run, and the billionaire father would not support the car-racing hobby of his son. Although he briefly worked for his father, Steve Bren found his own avenue to success when he opened the Newport Auto Center luxury car dealership in 1987.

LEGAL PROBLEMS AND BUSINESS SUCCESS

The legal troubles of Steve Bren developed side-by-side with his newfound business success. He was caught with eight street-illegal Porsche Speedsters on the dealership back lot and was tagged for violating environmental laws. Eventually, the lot was sold to a company owned by billionaire Wayne Huizenga in 1994.

SYMPATHY BUT NO HELP FROM BILLIONAIRE FATHER

Billionaire Donald Bren's Son In Tax Trouble

Billionaire Donald Bren's Son In Tax Trouble

After the recent bankruptcy of Bacchus, Donald Bren announced in a statement issued by the Irvine Co: “I sympathize with Steve… like many fellow Americans, overwhelmed by these extremely challenging financial circumstances…. I wish Steve nothing but the best as he works though this very difficult period.” The father remained silent in terms of the recent criminal charges. The Malibu court sentenced Steve Brin to both domestic violence counseling and drug counseling. If he finishes those counseling programs successfully, the charges will be dropped.

PROBLEMS WITH THE CALIFORNIA FRANCHISE TAX BOARD

The same result cannot be said to be a possibility when it comes to the Franchise Tax Board. As California’s 18th most delinquent taxpayer, Steve Bren will have to find a way to cover his tax bill in order to have the state tax lien lifted. Without the removal of the lien, his financial future and business life remain in permanent limbo.

THE POSSIBLE HELP OF THE TAX RESOLUTION INSTITUTE

By relying on the tax experience and the tax expertise of a company like the Tax Resolution Institute, Steve Bren could find actual tax relief and a solution to his tax problems. Since his billionaire father clearly is not swooping in for the rescue, Steve Brin will have to reach out for professional tax help.

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 the area. Prince has until May to pay up before officials take the matter to court.

The Royal Tax Evasion of Prince

The Royal Tax Evasion of Prince

No other property owner listed in the paper comes close to what the county says Prince owes in back property taxes to the Franchise Tax Board and the IRS. Prince’s home and other properties establish him as one of the largest property owners in the county; making the taxes he owes the city a significant amount. Asked to comment about the delinquencies, a Prince representative said the Purple One preferred to remain silent on the issue.

County officials also haven’t heard from him about his late payments. As required, the county sent Prince a notification letter on Feb. 15 about the delinquent tax bill. This is not the first time Prince has procrastinated in paying property taxes. He was late in paying on his studio in 2006 and 2008 as well. And he was late in 2008 paying on a 156-acre swath bordering his home.

The Property Tax Bill of Prince

The Property Tax Bill of Prince

Eventually, Prince made good on those bills before the county, as required by law. More renowned as an artist than businessman, Prince has had financial difficulties in the past with paying creditors on time or at all, according to published reports in 1995. But he has yet to have tax problems with the IRS, but those could be right around the corner.

Prince is also being sued in Ireland because he owes almost $3 million (damages accessed) to Dublin concert promoters. Prince canceled his 2008 concert at the last minute, costing the promoters a bundle of money. The Irish High Court Justice, Peter Kelly just made public that Prince owes the money and must make immediate payment arrangements. When Prince was informed by one of his agents that the Irish are pretty upset at him and that he owes them money, Prince reportedly said, “Tell the cat to chill. We will work something out.”

The scandal of Prince owing so much money to a small county in Minnesota and the IRS as well damages his reputation and blackens his name. When such a problem arises in California, the scandal is amplified times ten. As a result, celebrities and high profile individuals should come to the Tax Resolution Institute and receive help from a tax expert before their tax problem becomes a tax crisis.

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.

California Tax Dollars Wasted

California Tax Dollars Wasted

Here are some glaring examples of the extreme waste of your tax dollars in California. The state auditor actually discovered that more than 400 state workers were improperly receiving free parking, costing the taxpayers $2.1 million. The Department of Health Services made $2.5 million worth of incorrect payments to pharmacies. In addition, they also paid $1.2 million more than it should have in Medi-Cal claims for wheelchairs and other medical equipment.

In total, the report includes 127 specific examples – and this is just the tip of the iceberg. There were another 138 cases of waste that cannot be quantified in dollars and cents. As a result, they were not included in the report.

The California state government needs to actively address the bevy of problems pointed out by auditors and investigative reporters. Every penny wasted is a penny of revenue that could be used to pay for education, public safety, improved roads and other government services that taxpayers expect.

Will Arnold Schwarzenegger address these problems by refusing to allow such wasteful spending to continue? Such spending has placed California in the current budget crisis and increased the pressure for higher state taxes. In addition, it has led to the California Franchise Tax Board removing the gloves and going after delinquent tax bills like a Salem witch hunt.

California Franchise Tax Board Witch Hunt

California Franchise Tax Board Witch Hunt

If you have a large delinquent tax bill owed to the state of California, contact the Tax Resolution Institute. It is time to take action today before that dreaded knock comes to your door in the form of a tax lien. Such tax problems with the ruthless collection officers at the California FTB will lead directly to wage garnishments and asset seizures. On account of years of wasteful spending, California is coming after you with a vengeance. Protect yourself and your financial future before it is too late.

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 last ditch bid to keep afloat the company afloat that has been hit with a series of bills and legal issues. In fact, his tax problems have become transcontinental and multi-national. Last year. British tax officials ordered the TV star to pay off a series of outstanding debts in relation to two of his restaurants in London.

Tax debts of Gordon Ramsay

Tax debts of Gordon Ramsay

Now tax officials in New York are chasing the chef for over $250,000 of tax debts after he allegedly fell behind with payments. Gordon Ramsay New York, the celebrity chef’s company, has been listed by the New York State Department of Taxation and Finance (DTF) as one of the Big Apple’s top 250 business “delinquent tax payers.” A DTF spokesperson says, “New York loses billions of dollars each year in tax revenues owed, but not collected, known as the tax gap. We aggressively address the tax gap.” A rep for Ramsay’s company responded by admitting, “There is an amount still outstanding to the New York State regarding Sales Tax. We are negotiating through our New York advisors to discharge this debt.”

If you are a successful restaurateur in Southern California and your business has been hit hard in the tough economic climate, there is a good chance that a tax crisis is just around the bend. Before you find yourself in serious trouble with a flood of bad publicity like poor Gordon Ramsay, please contact the Tax Resolution Institute. There are answers to your problems of delinquent payroll taxes and other tax issues. Unlike Gordon Ramsay, do not wait until your company’s future is placed in real jeopardy.

Since Tax Revenue Fell 14% in 2009, the California Franchise Tax Board Is Going After Delinquent Tax Bills

In 2009, California state tax revenue was down $16.4 billion or 14% when compared to the previous year. Even though the state legislature in Sacramento and Governor Arnold Schwarzenegger approved the largest tax increase in state history, including a major hike in income taxes, the overall tax revenue declined by over $100 million dollars. These declines included a 20.4% decline in individual income tax revenue and a 19.5% decline in corporate tax revenue.

California Tax Revenue Drop

California Tax Revenue Drop

As a direct result of the decline in tax revenue, the Collections Officers for the California Franchise Tax Board have been directed to go after delinquent tax bills with vigor and focus. If you or your business owe back taxes to the state of California, it is essential that you take action before a dire situation grows even worse.

Why have the California Collections Officers been directed to go after back taxes with such renewed vigor? To begin with, California already was experiencing a budget crisis before the new tax deficits arose. In addition, as Lisa Blumerman, chief of the Census Bureau’s Governments Division noted, “The 2009 state tax collection data is the first component of government finance data released each fiscal year and provides an important indicator of the fiscal condition of state governments.”

California Franchise Tax Board

California Franchise Tax Board

With the ongoing recession combined with the lack of tax revenue, California’s 2010 budget has a $6.6 billion shortfall and faces a total $19.9 billion deficit through next year. The California Revenue Officers will be scouring the books to find both individuals and businesses with significant back tax bills to go after in order to make up the gap. Before you get the knock on the door that signifies a major threat to your future financial security, contact the Tax Resolution Institute. We can transform a tax crisis into a program of true tax relief. If you need tax resolution services, feel free to call the Tax Resolution Institute at 877-829-8370 or fill out our  tax resolution form.

The California Franchise Tax Board Tries To Jump Start Housing Market With A $10,000 Tax Credit

The California Franchise Tax Board is setting into motion a new plan to extend a $10,000 tax credit to first-time buyers purchasing new homes. The goal is to help the state’s lagging housing market. With a huge backlog of abandoned and foreclosed homes, California has to take action. With one of the country’s highest foreclosure ratings and business owners struggling to get new projects off the ground, California needs a tax benefit to counteract the rising pessimism of both sellers and buyers. At this point, tax revenue is secondary to stimulating the economy. Recognizing this situation, the Tax Resolution Institute can help you settle past tax bills from both a personal and business perspective in order to provide you with the financial flexibility to take positive action.

First Time Home Buyers Tax Credit

First Time Home Buyers Tax Credit

Signed into law by Gov. Arnold Schwarzenegger this week, the new bill provides $200 million for homes purchased between May 1 and Dec. 31, 2010 and between Dec. 31 and Aug. 1, 2011. The total amount provided to the California Franchise Tax Board to offer such tax credits to homebuyers is twice as much as a similar measure signed in 2009.

Builders and real estate business owners blamed a sharp downturn in construction last summer on a discontinuation of the tax credit after funds were exhausted in only five months. With a Fresno subdivision as a backdrop, Schwarzenegger said at a press conference, “I have been up and down the state pushing this important housing bill that will get people off the fence and into homes while creating jobs and stimulating our economy.”

Gov. Schwarzenegger Announces Homebuyer Tax Credit in California

Gov. Schwarzenegger Announces Homebuyer Tax Credit in California

Given the popularity of last year’s program, California taxpayers should ready themselves to apply for the new funds as soon as they become available from the California Franchise Tax Board. This is why it is essential to settle past tax difficulties, both personal and business related, in order to take advantage of this new opportunity. The funds will be allocated on a first-come-first-served basis.

Unlike a federal incentive program for first-time homebuyers that ends next month, the credit is not a refund, but will result in a reduction or elimination of state taxes over a three-year period. There are no income limitations, but the new buyers, however, must reside in the home for at least two years.

Tax Credit from California Franchise Tax Board

Tax Credit from California Franchise Tax Board

If last year’s tax credit program in California is any indication of the need in the current economy for this tax credit, the new funds are sure to be exhausted quickly. The state’s Franchise Tax Board stopped accepting applications for the first $100 million tax credit program for first-time homebuyers last July after it received 12,000 requests in only five months.

To see if you qualify for the tax credit, state officials suggest that potential buyers visit the Franchise Tax Board’s Web site to familiarize themselves with the program’s requirements. The California Franchise Tax Board expects to have “a significant amount of information and guidance” on its Web site about the new program by Tuesday, said Brenda Voet, an agency spokeswoman. The address isn’t yet available, but to find the site she suggested that people go to www.ftb.ca.gov and type “new home credit” in the search box on the front page.

Actor Ving Rhames Owes Over Half A Million To The IRS and the California Franchise Tax Board

Uncle Sam is about to go medieval on Ving Rhames if the “Pulp Fiction” star fails to pay almost half a million dollars in unpaid taxes. In November 2009, the IRS filed a tax case against Ving Rhames and his wife Deborah in L.A. County Superior Court. Ving failed to make good on a $491,588.06 Federal tax bill that dates back to 2007. Since skipping his payments to the United States Government, Ving Rhames and his team have ignored dozens of letters and calls from the IRS Revenue Agents, leading to the necessity of filing a tax lien against the actor and starting official court proceedings. What the 50-year old actor truly needs are the services of an experienced tax professional. The Tax Resolution Institute could have negotiated a tax settlement for the actor before the case became an Internet flood of negative publicity.

IRS Files A Tax Lien Against Ving Rhames

IRS Files A Tax Lien Against Ving Rhames

In addition to the Federal Case, the state of California is joining in on the fun, filing a state tax case against Ving Rhames in Los Angeles County as well. The tough guy character actor owes the California Franchise Tax Board a total of $191,828.71, including penalties, interest and collection fees. If you have both a state and federal case filed against you like Ving Rhames, it is essential to take a positive step before the tax liens become tax levies, resulting in the seizure of assets and the wage garnishment.

By working with the Tax Resolution Institute, Ving Rhames could negotiate separate deals with the IRS and the California Franchise Tax Board, greatly reducing the cost of paying off his tax debt. By negotiating an Offer in Compromise, the Tax Resolution Institute could help to do away with most of the fees and penalties, leaving the actor only the necessity of paying off the original debt.

Ving Rhames and his Wife Need Tax Relief

Ving Rhames and his Wife Need Tax Relief

Although Ving Rhames certainly has the cash to cover the tax debt, if he did happen to be in a financial bind, the tax experts at TRI could protect his wife if she was unaware of the tax debt. In fact, the tax debt, both federal and state, possibly could be declared Currently Not Collectible in certain cases of economic hardship and spouses can be protected through Innocent Spouse Relief. Most likely, Ving Rhames will not have to employ such measures, but his tax problems could have been avoided through the application of decent business management. In addition, his present tax crisis, both with the IRS and the Franchise Tax Board, can be resolved and put to bed through the expertise of real tax resolution at work.

The Potential Price of Failing to Pay Payroll Taxes: Orange County Hair Salon Owners Imprisoned

Why do Peter Stephan and the Tax Resolution Institute take the issue of unpaid payroll taxes so seriously? The consequences of not paying your payroll taxes and willfully withholding payment to the IRS can be severe. In the criminal case of a husband & wife hair salon owners in Orange County, the criminal withholding of payroll taxes led to stiff prison sentences. Such an outcome does not have to happen to you and your business if your payroll tax problems have just begun. We understand that meeting payroll taxes can be a challenge in a difficult economy. But if such a challenge arises, it must be addressed.

Paying Payroll Taxes

Paying Payroll Taxes

Laguna Niguel residents John D. Pham and Anna A. Nguyen were more than your average married couple. Since 1985, the couple operated numerous hair salons under the Fantastic Sams franchise name in cities across Orange County. By failing to pay their payroll taxes and defrauding the Franchise Tax Board of California and the Internal Revenue Service, the couple received stiff prison sentences.

On October 1, 2009, Pham was sentenced to over three years in prison after pleading guilty to willfully failing to account for and pay income and Social Security taxes withheld from the wages his employees. Although Pham and his wife had incorporated 10 companies from 1996 to 2004, all of which failed to pay payroll taxes, the main charge involved the employees of the Fantastic Sams franchises.

Hair Cutting Franchises in Orange County

Hair Cutting Franchises in Orange County

Anna A. Nguyen, Pham’s estranged wife, was sentenced to five months in prison after pleading guilty to conspiring with Pham to defraud the United States by preventing the Internal Revenue Service from collecting taxes owed. Lasting almost a decade, the couple’s conspiracy added up to a loss of over $770,000 of payroll taxes that were never paid to the government.

In addition, the couple avoided paying their income taxes as well, and Nguyen pleaded guilty to owing more than $80,000 in federal income tax liabilities.  They diverted assets from the corporations they controlled for their own personal benefit. As a result, they will have to pay joint restitution in the future of over $620,000 to the IRS.

It is clear that the couple were part of an ongoing criminal conspiracy. If you are having payroll tax problems with your business, it does not mean that you are part of such a conspiracy. Instead, you simply could be experiencing the challenges of a tough economy. As a direct result, Peter Stephan and the Tax Resolution Institute are here to make sure the consequences do not threaten your financial security and the future of your company. Rather than wait for a miracle to happen, take a positive action today to find a resolution and avoid such drastic consequences.