Another one Bites the Dust: Yet another celebrity joins the long list of Tax Evaders. Rapper Method Man (Real Name, Clifford Smith) was recently busted on felony tax evasion charges. He owed a loft $106,000 in back taxes, but recently made the final payment of $40,000.
Smith’s attorney Peter Frankel blamed the tax problem on the rapper’s previous accountant, who has been replaced. He said that once the performer learned about the tax debt, he hired a new accountant and paid his debt.
“Failure to pay your taxes is not a victimless crime,” said Richmond County District Attorney Daniel Donovan Jr. “In these days of massive budget shortfalls and service cuts, tax evasion is a crime against all New Yorkers. Whether you are a celebrity or an ‘Average Joe,’ you will be investigated, arrested and prosecuted.”
The Tax Man Cometh: In a previous entry I warned that the IRS is starting to send out Tax Debt Notices. Soon you may be surprised by an Official IRS Notice in your mailbox. Now is the time to take the initiative and take care of your tax issues before the IRS finds you. It's much easier to get help and solve the issue now than to let it escalate and grow out of control.