Wesley Snipes Loses 10-Year Old Case With IRS, Ordered to Pay $9.5 Million
Wesley Snipes is still in turmoil with the IRS, as per reports by The Blast.
The Blade actor lost his $10 million appeal in debt to the IRS. This tax case has been going on for about a decade after he was sentenced to prison for not filing his federal income tax in 2008. In the ’90s and early 2000s, Snipes ran off on the plug after his accountant and anti-tax advocate convinced him he didn’t have to pay taxes.
Snipes originally owed $23.5 million in debt to the IRS but was able to reduce the ridiculous amount to about $9.5 million. He initially offered to pay $850,000 to settle the debt, but the IRS served him. Wesley Snipes tried to appeal, and the courts took the side of the IRS.
“Given the disparity between petitioner’s $842,061 OIC [offer-in-compromise] and the settlement officer’s calculation of $9,581,027 as his RCP [reasonable collection potential], as well as petitioner’s inability to credibly document his assets, the settlement officer and her manager had ample justification to reject the offer,” U.S. Tax Court Judge Kathleen Kerrigan said Thursday.
A lien was put on the actor and producer’s home in August 2013, after he was released from jail. Snipes asserted in court that his financial advisor took out loans and assets without his insight, yet neglected to give enough proof to back up the case. The judge assured the $9.5 million payouts wouldn’t leave Snipes desperate, but according to Celebrity Net Worth, Snipes just has about $10 million to his name. Maybe it’s time for another Blade.
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‘Tom and Jerry’ Live-Action Movie Green lit by Warner Animation Group
Monday October 15, 2018
Variety reports that Warners and Warner Animation Group (WAG) are in arrangements with Shaft director, Tim Story, to helm the new Tom and Jerry live-action/animated hybrid. Warners has been cranking up the animated content since the release of The Lego Movie, which was released at the same time as the launch of the Warner Animation […]
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Milwaukee Brewers' current hot streak, summed up in four tweets
Monday October 08, 2018
A week ago, the Milwaukee Brewers were entering a Game 163 tiebreaker against the Chicago Cubs at Wrigley Field. Not even seven days later, they’ve already punched themselves a ticket to the franchise’s third-ever NLCS appearance. You could say that manager Craig Counsell‘s club has gotten hot at the right time. Milwaukee’s NLDS matchup with […]
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