From the category archives:

taxes of the rich and (in)famous

The Governator Blames Tax Lien On “Snafu”

29 November 2009

California Governor Arnold Schwarzenegger (R) is not having the best holiday weekend. On Black Friday (which may take on a completely different meaning for the “Governator”), TMZ.com posted information about a federal lien filed by the IRS in May against Schwarzenegger for nearly $80,000. Schwarzenegger’s office promptly (imagine that) claimed that the lien [...]

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UBS Set To Turn Over First Set of Names

25 November 2009

About 500 families may have a little bit less to be thankful for this morning: Swiss tax authorities have announced that they have notified the first UBS 500 clients whose names will be turned over to US government officials.
The 500 clients are the first of 4,450 names to be released under an agreement reached [...]

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Girls Gone Wild Founder To File Bankruptcy, Blames IRS

18 November 2009

And here I thought my days of reporting on Joe Francis were over…
It turns out that the Girls Gone Wild founder hasn’t quite put his tax woes behind him. After taking a deal to plead guilty to two misdemeanor counts of filing false tax returns – and escaping additional jail time in the process [...]

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It’s a Tax Lien, Dahling

14 November 2009

The woman who claims that she “never hated a man enough to give him diamonds back” may have to change her mind when it comes to Bernie Madoff. Zsa Zsa Gabor claims to have lost between $7-$10 million as part of Madoff’s scheme, leaving her with some substantial tax woes.
The 92 year old [...]

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Tax Havens Suddenly Not All the Rage

11 November 2009

Suddenly, it’s not so fashionable to have your money in Swiss banks. That’s sooo February 2009. This season, all of the trendy tax evaders are heading somewhere else.
In the wake of increased activity by IRS to track down previously undisclosed assets (joined by the taxing authorities in countries like the UK and Germany), [...]

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Girls Gone Wild Founder Gets Plea Deal

7 November 2009

“Girls Gone Wild” founder Joe Francis feels he finally got a break when a federal judge okayed a deal that Francis struck with prosecutors. Under the agreement, Francis was credited with 301 days already served and sentenced to one year of probation.
The plea deal was struck after Francis learned that a key witness, Francis’ [...]

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UBS Client Prosecutions Continue

31 October 2009

Jeffrey Chernick, a toy salesman out of New York, was sentenced on Friday to three months in prison for hiding millions of dollars from the IRS. Upon his release, Chernick will serve six months’ house arrest and six months’ probation. The judge did not impose an additional fine as Chernick is already subject to [...]

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A Method to His Madness? Clifford Smith Arrested on Tax Evasion Charges

6 October 2009

Rapper and Wu-Tang Clan member Method Man was arrested Monday on tax evasion charges stemming from an alleged refusal to pay personal income taxes. Method Man, whose real name is Clifford Smith, has reportedly failed to pay taxes from 2004 to 2007. His tax bill for the period was just $32,799 plus penalties [...]

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Richard Hatch Wants to Go Home

30 September 2009

Richard Hatch is not having a good year. After qualifying for early release from federal prison, where he was serving time on tax evasion charges, he was allowed to spend the remainder of his sentence at his sister’s house as house arrest. Hatch, not necessarily being the most conventional guy, apparently had a [...]

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“Girls Gone Wild” Founder Takes Plea

23 September 2009

“Girls Gone Wild” founder Joe Francis has agreed to a plea arrangement that will significantly reduce his outstanding tax liability and keep him out of jail (for a bit – I’m making no promises about what he’ll do next). Francis has agreed to plead guilty to two counts of filing false tax returns and [...]

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