Friday, May 24, 2013

Report: Mary J. Blige Has Tax Woes

Mary J. Blige
Grammy winner Mary J. Blige is being chased for taxes again. Like mixing plaids and stripes, celebrities and taxes often seem to be in discord. Stars may make a lot of money, but they have big expenses and a complex lifestyle. And they often rely on managers and advisers to handle details most people handle themselves. Their handlers may not keep them fully informed.

According to Forbes, Mary J. Blige has been chased by New Jersey tax authorities for $901,769.65 in back taxes, and now is in scotch with the IRS. According to TMZ, the IRS has recorded a tax lien claiming Ms. Blige failed to pay all her income taxes for the years 2009 ($574,907.30), 2010 ($2,203,743.53) and 2011 ($647,604.60). If that’s all correct, the total is over $3.4 million. Of course, the IRS wants to protect its position viz. other creditors.

RS liens are powerful medicine. An IRS tax lien covers all your property, even if acquired after the lien is filed. The courts use it to establish priority in bankruptcy proceedings and real estate sales.

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