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| Nicholas Cage Pays $6 Million To IRS, Still Owes Nearly $7 Million |
If you owe taxes, how different is your situation than Nicolas Cage? Actually not that different from the rest of us if you consider his earnings and tax liability. His income and business ventures are taxed just like you and me. Of course it is estimated he currently owes over thirteen million in taxes, penalties and interest but let’s face it he has been paid millions.
So what does Nicolas Cage or Darryl Strawberry (Mets) do when they have big debts to pay? They do the same things you and I would do. They keep working and earning so they can pay the debt down. Nicholas Cage just made a six million installment on his IRS debt. According to Forbes Magazine’s Janet Novack wrote; “In his book, Strawberry writes that he and Tracy (his wife) befriended a financial consultant they met at a Little League event and that the man “helped us negotiate with the IRS and deal with my other bills.” He adds: “We went before judges divulged everything about our current financial status, and they rendered their decisions on what would be realistic payment schedules where I could begin to reduce those bills a little at a time.”” Go figure Straw puts his pants on one leg at a time just like the rest of us. This blogger has also found himself in tax trouble. For tax collection and IRS solutions you can never have too many friends and waiting won’t help.
Call Michael Lofgran at Huntsman Lofgran & Assoc.
801.838.8900
www.utahirstaxattorneys.com .
Does the IRS go after celebrities and audit them more frequently than you and I or do they simply stay in the lime-lite? I’m not really certain what the correct answer is but how can anyone including the IRS ignore the media attention to purchases and salaries. It would be smart if new celebrities had a financial coaching center to attend, in advance of their first payday. Somewhere to help them understand how best to invest and help them plan their future. They should be warned of the issues that can arise, in this volatile world called “fame”. Someone should step up and guide them so they don’t fall into this same trap. It seems to happen repeatedly and needs to end. Let’s not judge them, because it could happen to anyone.
Does the IRS go after celebrities and audit them more frequently than you and I or do they simply stay in the lime-lite? I’m not really certain what the correct answer is but how can anyone including the IRS ignore the media attention to purchases and salaries. It would be smart if new celebrities had a financial coaching center to attend, in advance of their first payday. Somewhere to help them understand how best to invest and help them plan their future. They should be warned of the issues that can arise, in this volatile world called “fame”. Someone should step up and guide them so they don’t fall into this same trap. It seems to happen repeatedly and needs to end. Let’s not judge them, because it could happen to anyone.
