From the category archives:

taxes of the rich and (in)famous

Foxy Brown Faces Tax Liens

21 July 2009

Foxy Brown must miss being in the headlines.
Since 1997, the controversial rap artist has been in and out of court and/or police custody for various legal issues. In 1997, she was ordered to serve a suspended sentence and perform community service for spitting on hotel workers and subsequently missing a related [...]

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LA City Attorney Says Taxpayers Should Not Pay for Michael Jackson Memorial

9 July 2009

First, the good news: the memorial service for Michael Jackson did not cost the City of Los Angeles the $4 million originally reported.
Now, the bad news: the service still cost the City more than $1 million. Initial reports put the cost of additional security and trash pick up for the private event [...]

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Ask the taxgirl: Michael Jackson’s Funeral

8 July 2009

One of my recent “ask the taxgirl” questions involved whether Michael Jackson’s funeral expenses were deductible. When I paused to consider whether I wanted to post about Michael, a colleague kindly offered to address the issue on his blog at sofloridaestateplanning.com. The blog is authored by David Shulman, an attorney located in South [...]

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Are the Feds Backing Off UBS?

23 June 2009

The New York Times says yes. The Justice Department says no.
I’m not sure what to believe but it does make you wonder what’s going on… The Times has suggested that the DOJ may back off its investigation of more than 52,000 über rich Americans who held secret accounts at the Swiss bank, [...]

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Castroneves Ends May With Two Big Wins

26 May 2009

It turns out that May was a pretty good month for Helio Castroneves.
On last Friday, the last remaining criminal charge against Castroneves – for conspiracy – was dropped. The month before, Castroneves was acquitted of six counts of tax evasion; the jury did not reach a verdict on the conspiracy charge. The feds [...]

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IRS to Millionaires: Show Me the Money

21 May 2009

Those Housewives of New Jersey better brace themselves: the IRS has announced that it’s focusing its audits on wealthy individuals and corporations as part of a broader effort to crack down on international tax cheats.
IRS Commish Doug Shulman, a Bush appointee, has declared international compliance his “top priority.” He told the US House [...]

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Castroneves Verdict In

17 April 2009

The jury has finally reached a verdict in the Helio Castroneves tax evasion case. There were no scorecards but Castroneves still came out a winner: a federal jury acquitted Castroneves on six counts of tax evasion but hung on one count of conspiracy following a seven week trial and six days of deliberation. [...]

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Jury Reaches Verdict in Castroneves Trial… Sort Of

16 April 2009

A federal jury has reached a partial verdict in the Helio Castroneves tax evasion trial but Federal Judge Donald Graham isn’t saying much more than that. The jury has reached a decision on two charges but appears to be hung on the four other tax evasion counts and one conspiracy count. The [...]

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White House Releases Tax Returns

16 April 2009

No extensions necessary for President Obama and Vice President Biden. Both have their tax returns for 2008.
Here’s the scoop:
President Obama and his wife reported $2.7 million in 2008, about $1.5 million less than they reported in 2007 (I guess the recession has hit everyone). A majority of their income came from royalties from [...]

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Whatever, Alexis: Martha Stewart’s Daughter Sues Tax Preparer

13 April 2009

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If you’ve ever seen the cleverly produced “Whatever, Martha” – a show featuring Martha Stewart’s daughter, Alexis, and her friend, Jennifer Koppelman Hutt – reviewing old episodes of the Martha Stewart show, you know that Alexis does not want to become her mother. Unfortunately for Alexis, she, like her mother [...]

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