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20 celebrities who've ran into trouble with the IRS

Published by Business Insider on Fri, 14 Apr 2017


It's tax season, and hopefully you're taking the time to do your taxestoget your tax refund and remain in the good graces of the dreaded IRS.But if you make some mistakes ' or ignore them altogether ' you won't be alone. The financial lives of celebrities are complicated, often involving many different streams of income. Here are 21celebrities who haven't been able to handle that and ran into trouble with the IRS themselves.Nicolas Cage once owed the IRS $14 million after buying a castle, a pyramid tombstone, and a bunch of reptiles.The national treasure he is, Nicolas Cage's lavish spending habits are famous. He owns a pyramid tombstone for himself in New Orleans, a castle in England, lots of reptiles, and once beat Leonardo DiCaprio in a bidding war over a $276,000 Tyrannosaurus skull, which he later had to return.He may have not been able to afford it all. Cage admitted to owing $14 million to the IRS in 2010, but paid off more than $6 million of it at once in 2012. That might explain why he takes on almost any role he sees.Martha Stewart claimed she didn't have to pay taxes on two homes because they were being renovated.In the1990s and 2000s, Martha Stewart went through an array of legal troubles, dodging taxes on New York real estate and being sentenced to five monthsin prison for involvement in an insider trading scheme(she also was sentenced tofive months of house arrest and two years of probation)."Although she conceded that she owned a large, shingled house and a guest cottage on Lily Pond Lane, in East Hampton, New York, and an apartment in Manhattan, she claimed that neither was a 'permanent place of abode' as defined by the tax law, because both were undergoing extensive renovations and were uninhabitable during the years in question, 1991 and 1992," wrote James B. Stewart (no relation) in the New Yorker.The law didn't agree. She ended up paying$220,000 inproperty taxes andaddition penalties to the state of New York.Charlie Sheen reportedly had to rescue Lindsay Lohan from the IRS.Lohan has had chronic tax issues; the IRSand the state of Californiareportedly chased her down for unpaid federal taxes for three years straight.On one occasion, the IRS seized her bank accounts before Charlie Sheen rescued her and paid off $100,000 that she owed.See the rest of the story at Business Insider
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