Archives for: August 2009, 01
CELEBS MUST PAY TAXES

That includes Chris Tucker, Foxy Brown and Toni Braxton. These celebs are battling the IRS over reported unpaid taxes ranging from $79,000 to $3 Million. The IRS considers entertainers to be business owners. Therefore, they have to set aside money to pay taxes, instead of having it automatically taken out. One thing is for sure: there’s no way around Uncle Sam.
Why do celebrities have so many tax issues? Is it on purpose or is it just inefficient money management?