High Profile Tax Evasion – Celebrity Tax Debt

tax evasion in HollywoodSome celebrities think they are immune from the IRS, but as countless high profile tax cheats have learned, the IRS will find you. Fortunately, for the rest of us, we can learn how Hollywood’s biggest tax cheaters could have avoided jail time (or a big IRS tax bill) if they’d had the help of Atlanta’s best tax attorney.  Here are some important lessons you can learn:

•    Marc Anthony’s tax evasion problems were four years of unfiled tax returns. With the help of some of the best tax lawyers money could buy, he convinced the IRS that he trusted his financial team to file the returns for him. Anthony escaped jail time, but still had to pay $2.5 million in back taxes.

•    Joe Francis claimed more than $20 million in phony tax deductions. If you suspect that you might be guilty of tax evasion, you might consider filing an amended return, but consult with an Atlanta tax attorney first so your amended return isn’t seen as an admission of guilt of tax evasion charges.

•    Richard Hatch argued that he wasn’t guilty of tax evasion because he believed that CBS had paid the taxes on his million-dollar Survivor win. If someone tells you that you don’t have to pay taxes on income, get a second opinion from a tax lawyer in Georgia.

•    Paul Hogan felt that once he became an American citizen and paid taxes to the IRS, he shouldn’t have to pay taxes on the same income to the Australia Taxation Office. The ATO took a dim view of this and the result has been a long string of court battles and nasty headlines. If you are an ex-pat or have dual citizenship, get advice from a tax attorney who is qualified to handle your international affairs.

•    Sophia Loren ended up doing 17 days in a Naples jail for her husband Carlo Ponti’s unpaid taxes. If you file a joint return, your neck is on the line. If your spouse hasn’t been faithful with their taxes, take your returns to Atlanta’s top tax lawyer for a tax evasion consultation.

•    Pete Rose and Darryl Strawberry forgot to include the income from autograph and memorabilia shows on their tax returns. Strawberry paid $450,000 in back taxes, while Rose paid $366,000 and went to prison for five months. If you’ve forgotten some income, consult a tax lawyer on how to amend your IRS return without going to jail for tax evasion.

•    Wesley Snipes didn’t file tax returns as a political statement and was sentenced to three years of jail time and millions in back taxes and penalties. You may have heartfelt political or religious feelings, but put those thoughts in your Christmas letter or blog, not on your tax forms. If your political enthusiasm has run away with your common sense, contact a tax attorney before the IRS contacts you.

There are countless other examples of celebrities intentionally or accidentally cheating Uncle Sam. If you feel your situation has anything in common with one of these celebrity tax cheaters, call Atlanta’s best tax lawyer today to get your financial life back in order.  If you don’t, the IRS will.

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