Tag Archives: IRS

Save and Earn with Your Tax Return

One motivation for getting your tax forms in early is the promise of the money you may in the form of a tax refund. The average tax refund should run about $3,000 this year. Many people look forward to that tax return all year, but what if your tax return could make a real difference in your life and your finances? Instead of applying those funds to a vacation, why not use them to pay off debt or to build wealth? Save and Earn with Your Tax Return The typical tax return is a slippery thing, and before you know … Continue reading →

Celebrities and the Taxman – Part 2

The other day, I blogged about celebrities with current tax woes. But, what of those that fell out of the good graces of the IRS in the past? Spiro Agnew learned that being the Vice President of the U.S. wasn’t enough to ward off the IRS when they came looking for their money. In 1973, there was an investigation into Agnew’s tax payments or rather lack there of. Agnew, also under investigation for extortion, bribery, and conspiracy, pleaded guilty to one charge of failure to report income and resigned from the office. Boris Becker tried to get out of paying … Continue reading →

Celebrities and the Taxman – Part I

The tax deadline is almost upon us and you may be feeling a little blue, especially if you owe the Internal Revenue Service money. But, chances are, things could be worse. The other day, I blogged about soccer star Maradona owing Italian taxes, but there are stars right here in the states that are currently suffering tax woes: Singer Dionne Warwick has owed the State of California almost $3 million dollars for the past ten years. Oh, Dionne, you can run, but you cannot hide from the taxman! She blames the delinquent taxes on her former business managers. Comedian Sinbad … Continue reading →

It’s Tax Time 2009!

Are you all set with your taxes? If you live in the United States, you know what I mean. Tax paperwork is due next month, and many of us still have it hanging over our heads. This weekend, my husband and I are determined to get the monkey off of our back, so to speak, and get all of our paperwork organized. We divide and conquer. My little portion is to add up the deductible household donations that we have made during the year and take care of any business-related expenses. With tax time in mind, I thought we might … Continue reading →

2009 Tax Credits for Home Improvement

Tax credits for energy efficient home improvement projects are back again. This is good news for many of us who have older homes that need some improvement. Of course, there are no tax credits for last year (2008), which means that the insulation we put in over the family room attic will not qualify. However, since we aren’t done yet with our energy efficient improvements, I am sure that we will be able to take advantage of this credit. The bill was signed into law on October 3, 2008 by President Bush. It provides for tax credits for energy efficient … Continue reading →

Will Helio Be Saying Hello to Prison?

Hmmm… maybe this is the real reason his fiancee dumped him. Julianne Hough , we should have believed you from the get go. “Dancing with the Stars” champ Helio Castroneves may be shimming his way into a prison cell if federal prosecutors get their way. The pro racecar driver turned celebrity hoofer on the hit ABC dance competition was indicted yesterday in a federal income tax case in Florida. Feds are accusing Castroneves of not paying taxes on more than $5 million. According to news reports, the 33-year-old Brazilian is being charged with conspiracy to defraud the United States and … Continue reading →

Wesley Snipes Gets 3 Years for Tax Evasion

Here is word of warning – just don’t mess with the Internal Revenue Service! They got Al Capone when no one else could and now, they got Wesley Snipes. That is right – it looks as if actor Wesley Snipes is headed to jail for three years for failing to file federal tax returns. He received his sentencing today. In addition to the three years (which was the maximum sentence possible under federal guidelines), he will be fined up to $5 million. Ouch. Snipes had been charged with felony conspiracy counts, saying he participated in a scheme that rejects the … Continue reading →

Giving and Taxes

Hopefully you have already been aware all year of the changes in donations and charitable contributions in regards to your taxes. This is a big year of transition; therefore if you haven’t been keeping adequate records, you may have lost an opportunity for a tax deduction. Still, there is one month left of 2007 and many individuals give the most during the holidays. Therefore, it is worth mentioning some of these changes as we head into this season of giving. The main change in regards to your taxes comes with the paperwork necessary to prove a valid donation. This is … Continue reading →

Rollie Fingers – The IRS is Calling!

If you grew up in the 70s and watched baseball on television as I did, chances are you remember who Rollie Fingers is. He was memorable for several things, but as a child, I remembered just two – his odd name and his mustache. He had one of those funny handlebar mustaches that curl up on each end. He was also a great pitcher, which I can now recognize as an adult. He was in the major leagues for 17 years and used first as a reliever (a pitcher who comes in after the starting pitcher is either hurt, tired, … Continue reading →

Emmy, Her Bags and the Internet Revenue Service

I don’t know about you, but I am always a little envious when I hear of all the fabulous goodies inside an award show’s gift bag. Stuff that you and I can often only dream about is given to celebs who present at the shows. The goodie bags for this year’s presenters at the Emmy Awards (held August 27th) contain items that total between $27,000 and $33,000. But now, the IRS is wanting some of it. Celebrities were reminded by the Academy of Television Arts and Sciences in a letter that the IRS sees the goodies inside the bag as … Continue reading →