Quantcast Uh Oh, Mr. J Lo
Search by tag or site Login to my blog ? Start my own blog














TheMoneyBlogs
Home
About
Create your own blog
Contact us
Vote for this blog!

Don't Mess With Taxes

Taxes. Sure you hate 'em, but you're stuck with 'em. Either that, or you're stuck in a federal jail cell. We'll make your tax tasks less, well, taxing, and help cure your personal finance ills with regular dosesof money news, notices, tips, commentary, insight and humor, courtesy of Texas journalist Kay Bell.

Uh Oh, Mr. J Lo

Posted on 04/13/2007 11:18:24 | Link | Post Comment

Marc Anthony, singer, actor and husband of Jennifer Lopez, has agreed to pay $2.5 million in back taxes and fines owed by himself and three of his companies.

The Manhattan District Attorney's office said that between 2001 and 2004, Anthony failed  to file New York state and city corporate tax returns on $15.5 million in income. According to New York Department of Taxation officials, the deaprtment's computer kicked out Anthony's return because of discrepancies.

Anthony was not charged with any criminal tax acts, according to prosecutors, because the salsa singer's taxes for the years in queston were prepared by a professional accountant and Anthony thought his tax obligations were taken care of.

Two associates, however, are in a bit more tax trouble. Anthony's manager, who also happens to be his brother, and Anthony's business manager/accountant for the salsa star's three companies have pleaded guilty to tax felonies. They will be sentenced in June.

And don't worry, J. Lo fans. She's not in any tax trouble since she and Marc file separate returns.

Today's celebrity tax lessons: The Anthony incident highlights some important tax lessons that apply to megastars and regular folk alike.

One, your taxes are ultimately your responsibility, regardless of who fills them out and files them.

Two, when you file a joint return, you and your spouse are both liable for any taxes.

Three, state tax collectors are just as determined to get their money as are the feds.

Stock Quote or
Examples
ATM Wallstreet - Mon Oct 06, 2008 03:39PM
Made several great trades today. Traded the QID, QQ [read more]
ATM Wallstreet - Sat Oct 04, 2008 10:41PM
When I first started Day Trading I traded anything that [read more]
ATM Wallstreet - Tue Oct 07, 2008 10:07PM
Today we have the Fed speaking and release of Fed mi [read more]

PREMIER SPONSORED LINKS

Most Visited Blogs | Most Popular Blogs | Most Recent Blogs | Contact Us | Terms and conditions | Privacy Policy

The columns, articles, message board posts and any other features provided on TheMoneyBlogs.com are provided for personal finance, education and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of TheMoneyBlogs.com and there is no implied endorsement by TheMoneyBlogs.com of any advice or trading strategy. The analysts and employees or affiliates of TheMoneyBlogs.com may hold positions in the stocks or industries discussed here. Your use of this and all information contained on TheMoneyBlogs.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

Copyright © 2008 The Connors Group, Inc.