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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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Road to Race: McLaren 570S vs. 570S GT4
Saturday October 06, 2018

McLaren’s 570S is part of the company’s Sports Series range, which is to say, it’s one of their entry-level supercars. As if there could be an entry-level supercar. That’s a bit of an oxymoron, I suppose, but these McLaren supercars are appealing because they’re uniquely British, minimalist in design, and as understated as a British […]

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College Football Viewing Picks for Week 4, 09/22/2018
Saturday September 22, 2018

All Times Eastern Schedule courtesy Matt’s College Sports on TV Announcing assignments courtesy Eye and Sky and Air Sports Studio and Pregame Shows College GameDay live from the University of Oregon, Eugene, OR — ESPN/ESPNU, 9 a.m. BTN Tailgate — Big Ten Network, 10 a.m. SEC Nation live from the University of Alabama, Tuscaloosa, AL […]

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