Oscars ‘Free’ Gifts Draw $46k Tax Bill From IRS + $16k From California

Hollywood, CA/ USA – July 26, 2018: Oscar golden award in a souvenir store on Hollywood Boulevard. … [+] Success and victory concept getty Some say that an Oscars statuette is the most val...

Charlie Sheen Beats IRS, Slashes $7M Tax Bill To $3.3M

Actor Charlie Sheen has owed the IRS millions for years and has long been trying to hold them at bay. Convincing the IRS they are wrong is not easy, especially where the IRS has discretion, and where ...

Chrisleys Are Convicted Of Tax Evasion & Bank Fraud, Don’t Know Best

Todd and Julie Chrisley were indicted in August 2019 on a raft of a federal tax and bank charges, and a new indictment was filed in February of 2022. They were just convicted of all charges by a jury ...

Tax Bill On Johnny Depp And Amber Heard Damages Could Be Particularly Ugly

The long-awaited verdict is in, with Johnny Depp coming out on top, but neither of them unsullied in the process. The jury found that Heard defamed Depp, and awarded him $10 million in compensatory da...

Johnny Depp & Amber Heard Have Tax Issues Too

It’s hard to look at the spectacle but curiously hard to look away too. In some ways, it can make you feel lucky that you’re not among the rich and famous. Do they have tax problem, too? Surprisingly,...

How IRS Can Tax ‘Gifts’ and Impose Big Penalties

Are gifts income the IRS can tax? Fortunately, no, but the line between what is income and what is a gift is sometimes fuzzy. Let’s say you do major favors for your employer and get a gift of $20,000,...

If You Hold Crypto For Someone Else, Can IRS Collect Taxes From You?

MORGANTOWN, WV – 31 DECEMBER 2017: Ethereum or ether coin lying on top of similar golden coins to … [+] illustrate cybercurrencies getty It’s tax time, and crypto gains can be painfu...

How To Write Off Legal Fees On Your Taxes

Since 2018, it’s been tougher to deduct legal fees, and some plaintiffs in contingent fee cases are taxed on their gross recoveries, not net after legal fees. Some call it a new tax on legal settlemen...

Jeopardy Champ Amy Schneider Faces Big Taxes On 40 Wins

Jeopardy Getty Images It can be mesmerizing to watch Jeopardy! especially when someone you are rooting for is doing well, is super smart, and makes you think. That was so with Amy Schneider, but her 4...

IRS Lists Top Ten Criminal Tax Cases Of 2021

Any tax audit can be frightening, but criminal tax cases are the worst. And since it’s time for Americans to start thinking about the 2021 tax returns and filing by April 18, the IRS has some reminder...