While we can’t offer you respite from the heat wave oppressing much of the country, we can bring you good news of upcoming sales tax holidays to ease the burden on your back-to-school shopping budget. (Don’t have a household budget? This is a perfect time to create one and educate your kids about what all [...]
The Real Housewives reality-television franchise has spawned more bankruptcy filings than pro sports and celebrity accountant Kenneth Starr combined. We wondered why, so we reviewed the most notorious examples of the “real housewives” living beyond their means. Teresa Giudice is one of the most combative Real Housewives of New Jersey, and with this group, that’s [...]
April 19, 2011 – 12:54 pm
As you undoubtedly already know, the deadline for filing your 2010 taxes was yesterday. But if you’re reality-television rockers Ozzy and Sharon Osbourne, it was also a good day to pay taxes for 2008 and 2009. Better late than never! On April 4, the IRS put liens on the Osbournes’ two Los Angeles-area mansions to [...]
April 15 is traditionally tax day, but because today is a public holiday to celebrate Emancipation Day in Washington, D.C., the country is given three extra days to file their federal tax returns for 2010. If you’re a wait-til-the-last-minute type, here are three commonly misunderstood deductions and how to claim them on your return: You can [...]
Here at Econ4U, when I catch a celebrity screwing up in a major financial way, I recap the story in our Famous Financial Flubs section. Not because I’m gleeful at someone else’s misfortune, but because it can serve as a valuable lesson for everyday people and help everyone handle their money better. However, WalletPop columnist [...]
We’ve written before about unintended consequences and banking restrictions or consumer credit. But there are plenty of other places where they show up. What if the new health-care law — meant by lawmakers to reduce medical costs for Americans — actually increased them for the average family’s household budget? An article in the Wall Street Journal [...]
It may not be as big as the half-million tax lien that the IRS filed against Val Kilmer in January, but yet another movie star is finding himself in trouble with the taxman. And they’ve made him an offer he can’t refuse. Gossip website TMZ.com reports that the Internal Revenue Service filed a tax lien against Pacino last [...]
February 1, 2011 – 1:05 pm
Just when you think playing for the NBA couldn’t get any better between the insane paychecks and adoring fans, here’s a new perk: If you’re a big enough star, your employer will even pay your way out of trouble with the Internal Revenue Service. That’s what former Miami Heat point guard Tim Hardaway found out [...]
January 11, 2011 – 1:59 pm
Val Kilmer may have played Iceman in Top Gun, but he’s not about to outmaneuver the taxman for the second time. In April 2010, Kilmer settled a $538,858 tax debt with the IRS. But that wasn’t all he owed to the feds, because in November, the IRS filed a new lien — worth $498,165 — [...]
October 26, 2010 – 1:20 pm
Grammy-winning R&B singer Toni Braxton has filed for bankruptcy protection in Los Angeles in a last-ditch effort to pay off her debts, which she estimates to total between $10 million and $50 million. She claims medical bills to treat a heart condition are behind her drained bank account. However, this isn’t Braxton’s first time in [...]
