Five Celebrities Who Have Owed A Large Tax Debt

Five Celebrities Who Have Owed A Large Tax Debt

We tend to think that celebrities live above the grade, as in the normal American taxpayer grade. Yet, although many celebrities try to live above the rest of us, they are subject to the same tax laws that everyone else is. When celebrities owe money to the IRS or commit tax evasion, their debt tends to be in the hundreds of thousands or even the millions of dollars.

Let’s take a look at a few of the celebrities who have owed a large tax debt:

Wesley Snipes (Blade)

With the supposed awareness of his accountants, Wesley Snipes evaded the IRS from 1999 to 2001. Through the first decade of the 21st century, Snipes fought a longwinded legal battle, which resulted in him spending over two years in prison. He was released in 2013. The IRS claims he owed $17.5 million in 2015.

Nicolas Cage (National Treasure)

In 2010, Cage owed the IRS $14 million. His debt may have something to do with his buying a castle in England and his bidding war over a $276,000 Tyrannosaurus skull. All in all, Cage avoided prison time and paid off more than $6 million at one time in 2012. 

Floyd Mayweather Jr. (Boxer)

The IRS even comes for prize money (who knew?). Mayweather discovered this when in 2009 the IRS sought to recover $5.6 million owed from a fight of his in 2007. Year after year, Mayweather has continued to owe the IRS earnings from his million dollar fights.

Martha Stewart (Home Improvement Star)

Through the 1990s and 2000s, Martha Stewart failed to pay hefty sums of property taxes amounting to over $220,000 in tax debts. This debt was owed to the state of New York, and though Stewart fought the state, she paid penalties in addition to the property taxes.

Lindsay Lohan (The Parent Trap)

The Parent Trap star fell into this trap with the IRS for three years straight. Her evasion even resulted in the IRS seizing her bank accounts. Thanks to her good friend, Charlie Sheen, the IRS received her $100,000 owed. 

Whether you owe money to the IRS or you have a State tax debt, our staff of Enrolled Agents and Tax Professionals can help you! We have over 50 years of experience negotiating with the IRS in all 50 States.

 

Call The Tax Defense Group today!