These Celebrities’ Unpaid Taxes Surely Have Financial Advisors Stunned

Advisor September 8, 2019

Celebrities always look like they have all the riches in the world. Designer clothes, jet-setting in private planes, buying private islands, and huge chunks of jewelry. They also have net worths that can already start a country. From the outside, it looks like they have it all. But maybe they really do have it all, including occasional run-ins with the authority. Their huge sums of money got them in trouble since they have been tapped by the government for owing some.

In this article, we are going to talk about the celebrities who have had strikes with the Internal Revenue System (IRS) for tax evasion. If we, the middle-class people can pay taxes, there probably is no reason why these celebrities can’t.

O.J. Simpson

O.J. Simpson continuously has problems with unpaid taxes since 2007.

Aside from the major crime, the O.J. Simpson has gotten himself into, he is also had a minor hiccup with the IRS. According to TMZ, O.J. has failed to pay $15,927.89 in 2007, $105,119.71 in 2008, $49,490.27 in 2009, and $8,897.20 in 2010. The list does not end here. He continued to face the same problems from 2012 onwards, with $300,000 as the biggest tax money he failed to pay in the State of California.

Lindsay Lohan

Lohan being part of the list of the mischievous is not a new thing. Despite her motivation to make her life better after going in and out of rehab, Lohan’s name will forever be tainted by her previous records. According to a source, Lohan has owed the IRS almost $250,000 of unpaid taxes. This was the accumulated tax of the year 2009 and 2010. Her co-actor Charlie Sheen is said to have lent her $100,000 to pay half of it. It is still unclear whether she was able to pay the remainder of her unpaid tax.

Ty Warner

Ty Warner is an actor turned businessman. He owns a toy manufacturer that supple Beanie Babies and he is also the founder of the Ty Warner Hotels and Resorts. With his business and other investments, Warner’s net worth by the end of 2014 is at $1.7 billion. Together with this huge amount of net worth is a tax that runs up to $24.4 million, which he failed to pay. That is why he was convicted of tax evasion in the same year. His money may have gotten him into prison but it also what has gotten him out. His lawyers said that Warner paid $53 million of the civil penalty and $14 million in back taxes.

Dolce and Gabbana

Domenico Dolce and Stefano Gabbana were convicted in 2014 for unpaid taxes of $50.7 million.

The rich and the upper class always have a Dolce and Gabbana item in their closet. The brand is one of the most successful high-end brands to date. They have campaigns that feature the Hollywood’s most bankable personalities. But what this brand has in common with some of its Hollywood clients is an unpaid tax. Domenico Dolce and Stefano Gabbana’s tax nightmare started in 2007 and they were only convicted of it in October 2014. Their unpaid tax is at $50.7 million.

Nicolas Cage

Cage’s situation is a combination of management mishap and lack of awareness on his part. The actor’s unpaid taxes date back to 2002-2008, excluding 2005 and 2006. Four years of not paying taxes totaled to a $13.3 million debt to the IRS. According to Cage, he was not aware that he was not paying taxes anymore, blaming his previous business manager for the failure. Cage paid $6.85 million in 2012, but he still had a lot of money that he owed. It’s still a mystery if Cage has already clean his slate with the IRS.

Lionel Richie

Lionel Richie managed to solve his problems with IRS by paying his dues.

We have all enjoyed Richie’s songs growing up. His career was soaring that up until now he is still considered as one of the top-selling artists. Despite being away from the limelight, Richie maintained his presence in the music industry through producing albums and looking for fresh talents.

In 2010, Richie got tangled into a tax-drama with the IRS. The legendary singer is said to have racked almost $1.1 million in unpaid taxes. According to sources, Richie has already paid what he owed to the government and the lien that was given to him is already lifted.