Tag Archives: Celebrity

IRS v. the Estate of Michael Jackson: IRS Ups Claim to $731m

April 04, 2016  |   Posted by :   |   International Tax Planning   |   0 Comments

In the ongoing dispute of the Estate of Michael Jackson, in a previously unreported court filing the IRS has increased their original claim for tax and penalty from $702m to $731m. The IRS now values the Estate (and Lifetime Taxable Gifts) at $1.178B compared to the Estate Form 706 Valuation of $7m, a valuation difference […]

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Soccer Star, Neymar, Guilty of Tax Evasion

March 21, 2016  |   Posted by :   |   Tax Evasion,Unreported Income   |   1 Comment

Soccer start, Neymar (star forward for Barcelona, 24 year old Brazilian, formerly of team Santos) has been reportedly found guilty of tax evasion in Brazil and fined 45.9m Euros (over $50m/US) for failing to declare 2012-2014 earnings to avoid payment of 53.6m Euros in taxes on income received from his former team, Santos and endorsement […]

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Clinton Portis, ex-NFL Running Back, Files for Bankruptcy

December 29, 2015  |   Posted by :   |   International Investors   |   0 Comments

From UPI.com Former Washington Redskins and Denver Broncos running back Clinton Portis, who made about $43 million during his nine-season NFL career, has filed for bankruptcy. A federal bankruptcy filing this week showed Portis owes nearly $5 million to creditors, including $500,000 to his own mother, according to court records obtained by USA TODAY Sports. […]

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Supermodel Bar Refaeli Charged With Tax Evasion

December 23, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

By Kelly Phillips Erb, Forbes.com Bar Refaeli, one of the world’s most recognizable supermodels, has been arrested on charges of tax evasion in Israel. According to Agence France-Presse, Refaeli was arrested at her home alongside her mother, Tzipi, and questioned by police for several hours. Refaeli has been accused lying about her residency in order […]

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The 13 Top-Earning Dead Celebrities Of 2015

December 03, 2015  |   Posted by :   |   International Tax Planning   |   0 Comments

By Zack O’Malley Greenburg, Forbes.com In the time since Michael Jackson’s sudden death in 2009, the financial story that has played out has been nothing short of a thriller. The King of Pop has earned more than $1 billion before taxes since then, enough to pay off his personal debts and then some… Next on […]

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The IRS & Offshore Tax Evasion: Athletes, Celebrities and Investors

November 10, 2015  |   Posted by :   |   International Tax Planning,Tax Evasion,Unreported Income   |   0 Comments

On October 22, 2015 The Wolfe Law Group hosted their annual event, at the Peninsula Hotel, Beverly Hills. This year’s event topic was The IRS & Offshore Tax Evasion: Athletes, Celebrities and Investors. A wine tasting preceded the seminar with wines supplied by double gold award winning winery, Pomar Junction, San Luis Obispo. Speakers at […]

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Celebrity Tax Issues

November 05, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

The following are recent IRS issues involving athletes and celebrities: 1. IRS Taps Melissa Gilbert for $360,000 in Unpaid Taxes The star best known for her role as Laura Ingalls in Little House on the Prairie owes more than $360,000 in back taxes, according to the IRS. 2. Macy Gray Owes $268K in Back Taxes to IRS Celebrity R & B […]

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15 Athletes Gone Bankrupt

August 27, 2015  |   Posted by :   |   Asset Protection   |   0 Comments

From TheRichest.com In 2008, the NBA Players’ Association claimed that 60 percent of pro basketball players go broke within five years of retirement. It’s not hard to see why. In the annals of “easy come, easy go,” few people see it come and go like professional athletes. While it’s true that many take their salaries […]

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Woe The Weak-Willed Celebrity

August 04, 2015  |   Posted by :   |   International Tax Planning   |   0 Comments

By Anthony Greco, Private Wealth, fa-mag.com I am pleased to announce I have been interviewed by Financial Advisor Magazine on Celebrity Estates Tax Issues. Excerpt- Failure to properly value a celebrity’s image and likeness and to plan for who will be the beneficiary of any related earnings after death, opens the door to the tax […]

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Celebrity Tax Problems: Lionel Messi

May 05, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

World-acclaimed Spanish soccer player, Barcelona forward Lionel Messi is a target in Spain’s continuing investigation of the “rich and famous” for tax evasion (Spain’s Princess Cristina and her husband, face criminal trial for tax evasion). Messi is alleged to have transferred his “image rights” (i.e. name, likeness) to offshore companies in tax havens and not […]

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