The Internal Revenue Service (IRS) and local state taxing authorities can claim many high-profile cases. These federal and state agencies will go after taxpayers who have not met their obligations, ranging from the regular guy next door to mega-stars.
Tax crime prosecutions of Hollywood’s elite including:
- Nicholas Cage. In 2014 the IRS accused Cage, one of the highest-paid actors at the time, of owing more than $6 million in property taxes.
- Wesley Snipes. The IRS built a successful case against this action star for a failure to file his taxes. The court sentenced him to prison time and financial penalties of over $5 million.
- Martha Stewart. Known as the queen of home décor, party planning, and DIY projects, Ms. Stewart has had more than one brush with the law. Although likely most known for the insider trading conviction that led to prison time, state taxing authorities in New York also came after the media mogul for failure to pay taxes on property in East Hampton.
- Shakira. Music sensation Shakira is one of the most recent examples. The Spanish government claims she failed to pay income taxes from 2012 through 2014 and could face almost a decade of imprisonment if convicted.
As noted in each example, the taxpayers faced everything from hefty financial penalties to time in prison. The same holds true for those who do not fly quite as high on the popularity radar. Whether wealthy and maintaining a lower profile or a Regular Joe, a notification from the IRS or state taxing authority of an impending audit is intimidating. You do not have to go through this on your own. The law provides the right to legal representation. The attorneys at Goldburd McCone can use their experience to help guide you through the process toward a favorable resolution.