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One of the most recognizable names in the entertainment industry, Beyoncé Knowles-Carter, has found herself in hot water with the IRS. The world-famous performer and businesswoman owes approximately $2.7 million in taxes and penalties.
. The IRS wants to collect its tax debt. And if you owe a large sum, they especially want to bring that money in. Sure, they aren’t paid on commission, but this is their job, and, probably like all of us, they are held to certain marks and standards.
The use of offshore accounts to avoid taxes is not particularly new. However, in a globalized world, are they still a safe way for tax dodgers to hide their income? Check out some of these recent tax scandals to see.
When he came to Direct Tax Relief, James* was in IRS debt to the tune of over $118,000 in back taxes, fees, and penalties. DTR immediately filed a settlement offer on James’ behalf.
Recently CNN reported on a raid of Gladys Knight’s Signature Chicken & Waffles restaurant by Georgia’s Department of Revenue. Shanga Hankerson, Knight’s son, was accused of stealing roughly $650,000 by withholding sales taxes owed to the state.
Everyone has heard the tried-and-true business tips. Things like “identify your target consumers,” “emphasize customer service” and “network, network, network.” But what about all of the other stuff that goes into running a successful small business?
Small businesses are weighed down with a bevy of taxes (and soon they will face changing overtime policies, too). For every employee, businesses have payroll taxes that are paid throughout the year (rather than just on April 15). But what happens if you get behind and can’t pay?
