Law Offices of Connie Yi, PC
California
Estate Planning
& Tax Law
Toll Free: 888-312-6978
Website Navigation Menu

Learning from celebrity tax mishaps: part one

Many people follow celebrity news to stay up-to-date on pop culture, gossip and the latest fashion trends. Some people consider the rich and famous to be role models for building a brand and running a business. But it doesn't stop there.

As several recent cases highlight, celebrities and public figures can also teach us lessons about how to handle our taxes. As Tax Day (April 15) draws nearer, it is wise to look at some recent high-profile tax disputes for a refresher on the importance of adhering to IRS rules and deadlines.

For example, it may be helpful to take a look back at actor Wesley Snipes' 2008 trial. He was convicted of three counts of failing to file tax returns, a misdemeanor. Despite the fact that he only faced misdemeanor charges, he was sentenced to three years in prison. He was acquitted of felony charges of filing false returns.

Mixed martial artist Nick Diaz also has concerns about spending time in jail for tax violations, apparently. In a recent press conference, Diaz said, "I've never paid taxes in my life and I'll probably go to jail."If he is referring to failure to file returns, there is a possibility that he could spend some time in jail. However, if he only meant that he hasn't had the money to pay taxes he won't land in prison.

If you have concerns about the status of your taxes or fear trouble with the IRS, it may not be wise to tell a room full of reporters about it. Rather, if you have questions about your return consider speaking with an experienced tax law attorney.

Source: Forbes, "IRS Problems That Land Even Jailers in Jail," Robert Wood, March 29, 2013

To learn more about handling tax litigation and audits, please visit our website.

No Comments

Leave a comment
Comment Information

Contact Us Now to begin your initial consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

FindLaw Network

Office Locations

Law Offices of Connie Yi, PC
490 Post Street, Suite 508
San Francisco, CA 94102
Phone: 415-433-3350
Toll Free: 888-312-6978
Map and Directions

Additional Office Locations:
Pleasanton
323 Ray Street
Pleasanton, CA 94566
Phone: 925-484-0888 
Pleasanton Law Office Map

San Mateo
1900 S. Norfolk Street, Suite 350
San Mateo, CA 94403
Phone: 415-433-3350
Map and Directions

Sunnyvale
1250 Oakmead Pkwy, Suite 210 
Sunnyvale, CA 94085 
Phone: 888-312-6978 
Map and Directions