Posts Tagged ‘IRS

31
Jul
13

SO SAD: Toni Braxton Will Have to pay to Perform her own Songs

Toni Braxton has lost the rights to 27 of her songs in an auction due to her bankruptcy issues.

Years back when Toni owed the IRS she had her catalog taken from her. A judge told her that she could pay $27,000 to get her catalog back, but since they were put in an auction, anyone could outbid her and buy the songs.

Well, either Toni doesnt have the money or has no desire to ever perform her hits again. An LA judge bought the 27 song catalog which includes some of her most beloved hits including, Let me Count the Ways, You’re Making me High, Always and many more.

This means that Toni will have to pay in order to sing and perform her own songs.

So sad. Maybe she should have been saving the money she’s been making from Braxton Family Values to pay for the catalog.

FYI…

Unbreak my Heart is not in the catalog because it was written by a third party.

06
May
13

Lauryn Hill to Spend 3 Months in Prison for Unpaid Taxes

Her two weeks are up and now Grammy Award winning singer Lauryn Hill  has been sentenced to 3 months in federal prison for owing the IRS approximately $1 million in back taxes. She will also spend an additional three months in home confinement.

Hill is to report to prison on July 8. Where she will report to is unknown at this time.

 

21
Apr
13

Lauryn Hills Eviction and Tax Troubles

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Lauryn Hill is now facing eviction from her South Orange, New Jersey home
. Shes only one month past due, yet her landlord has already taken her to court.

Her Tax Troubles

While recently being interrogated by the IRS, singer Lauryn Hill admitted why she not only avoided paying her taxes, but probably why she mysteriously disappeared from the music industry after only one mega platinum album.

Hill claims she stiffed Uncle Sam and fell off the map after the ’90s after receiving scary threats to her and her family.

Lauryn failed to file tax returns for 2005, ’06 and ’07 … when she earned a total of more than $1.8 million. She has already pled guilty and faces several years in prison.

According to official docs … Lauryn stopped paying taxes “when she withdrew from society at large due to what she perceived as manipulation and very real threats to herself and her family.”

However, she won’t go into detail about the threats.

Lauryn’s asking the court to consider a bunch of other factors before her sentencing — including her claim that she can pay off the debt much faster if she’s not behind bars.

But it’s not looking good. Recently released actor Wesley

Lauryn is begging for probation instead of jail time, in order to begin paying her back taxes. A judge will be merciful — or not — on Monday, April 22.

17
Jan
10

Nicolas Cage Owes IRS ANOTHER $14 Million

Nicolas Cage  continues to get his financial issues straight and intends on paying the IRS all that he owes in back taxes.

After  the government recently placed a tax lien on his real-estate holdings, including an additional $6.7 million from 2008, “unfortunately, due to a recent legal situation, another approximate $14 million is owed to the IRS,” Cage told PEOPLE in an exclusive statement.

The actor says he is glad to be current for 2009 and that all taxes will be paid including any to be determined state taxes.

17
Oct
09

Nicolas Cage Owes IRS Millions and Is Suing Business Manager

IRS has filed liens against Nicolas Cage for more than $6 million in back taxes which will  force the mega-star  to sell off major assets and investments in order to pay off his back tax liabilities.

Cage has filed a lawsuit in L.A. County Superior Court against his former business manager, Samuel Levin. The lawsuit claims that over a period of seven years, “Levin placed Cage in numerous highly speculative and risky real estate investments, resulting in Cage suffering catastrophic losses, ”  states the lawsuit file.

Cage also claims Levin failed to pay taxes when they were due. Cage claims it was only this year, after firing Levin, that he learned of his financial issues.

His lawyer Marty Singer, claims in the lawsuit that Levin never advised him of his financial situation and is guilty of “over-extending [Cage’s] line of credit with banks and financial institutions.” The suit also claims that Levin concealed hid Cage’s “true financial condition prior to investments and assets being acquired by [Cage].”

Cage earned $40 milion between June 2008 and June 2009, according to Forbes.

Cage is suing  for a minimum of $20 million.




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