Many people look at celebrities and their seemingly endless bank accounts and often think that if they had their money, all their problems would be solved. However, when it comes to owing Uncle Sam that does not always appear to be the case. Countless celebrities over the years have found themselves in trouble with the Internal Revenue Service and owing millions of dollars in unpaid personal income taxes. There are quite a few prominent members of the rich and famous who have recently found their own names on this list and are in need of some serious debt help.
A recent report claimed that Pamela Anderson, former Baywatch star and Playmate, owes the Californian government more than half a million dollars in back taxes on her personal income.
Francis became famous for his Girls Gone Wild videos, but now he is making headlines for another reason. Francis owes almost $800,000 in back taxes. California tax authorities officially filed a lien against his assets in June of 2011.
Lionel Ritchie who has an estimated net worth of over $200 million dollars is on the IRS’s bad side by currently owing over one million dollars in taxes on his personal income. Ritchie has recently been served a lien which allows the government to seize enough assets to cover his delinquent bill.
Halsey M. Minor
Minor and his wife, Shannon, are at the top of the California tax delinquent list owing the state of California more than ten million dollars. Minor was a high-tech pioneer back in the 90s and founded the popular website CNET. A new California law took effect on January 1st, 2012 requiring the top 500 largest tax delinquencies to be listed twice a year.
Cage has had problems with paying his personal income taxes for years. He recently paid over six million towards his delinquency, but still reportedly owes another seven million. To help pay off his massive tax debt, Cage has put up some of his properties for sale, although none have sold yet. In 2010, he claimed he owed more than fourteen million in back taxes and while his six million dollar payment helped, he still has the balance to contend with before he can start breathing easier.
Lohan is often in the news with family problems, but her latest issue is with Uncle Sam. Lohan recently had the I.R.S. file a lien against her in an attempt to collect back taxes from 2009 and 2010. While her $140,203.30 seems small in comparison to other celebrity’s back tax delinquencies, her recent financial and legal troubles may make it difficult for her to pay it as a lump sum. A Lohan representative stated that Lohan is working with the IRS to come to an acceptable payment arrangement.
Celebrities are not the only ones who find themselves in need of debt help in order to pay back taxes owed to the tax authorities. If you owe money to the IRS and cannot afford to pay it, one of the best things to do is get a loan, either a direct loan from a bank or a consolidated loan, this allows you to repay the amount due all at once and avoid the stiff penalties and fees levied by the IRS. Visit secureloanconsolidation.com for more information on consolidated loans.
Photo courtesy of Donkey Hotey on Flickr, and is used with permission from the Creative Commons License
About the Author
Ms. Bekiroglu is a published author, freelance writer and editorial consultant for secureloanconsolidation.com. After receiving a Bachelor of Arts degree from the University of South Florida, she faced the mounting obstacle of paying over $24,000 back in student loan debt. Determined to eliminate the debt, she became knowledgeable about money management. She seeks to educate others with tips on managing student loans and other kinds of debt, as well as in general personal finance and money saving tips.