Ordinary people have a hard time managing their taxes and so do celebrities. Of course, the difference between ordinary Americans and celebrities is the amount of cash involved. It’s not only the average American who makes use of installment agreements and payment plans to catch up on unpaid taxes. The rich and famous are also joining in. An example would be Ms Zsa Zsa Gabor. Uncle Sam made it clear even a former pinup actress could not get away with unpaid taxes in excess of $118,000. This shortfall came from 2001 and 2002. According to Ms Gabor’s advisers, the actress $7 million due to the Ponzi Scheme of Bernie Madoff and the tax shortfall is a spin-off. Ms Gabor and spouse are negotiating a payment plan with the IRS.
Political experts also use the paying off method to catch on their taxes. The Detroit News stated Ed Rollins had a lien filed against him by the IRS: $47,518 in September; $13,567 in May and $977,458 in March. He also had tax warrants filed against him by Oklahoma and New York. According to Ed Rollins he has negotiated an IRS payment plan, has already provided a ‘substantial portion’ towards his unpaid taxes and has settled his tax bill for New York. However, he will challenge the tax warrant from Oklahoma. His reason for the challenge will be founded on residency rights. State tax departments are becoming more aggressive about getting their tax share whether you live inside a border or not.
Whether you are rich and famous or a regular citizen you can and should make use of a payment plan if your tax bill is more than you can afford. You don’t have to take action only when collectors file liens against you. Uncle Sam will ask for a once of fee of $105 but if you pay by direct debit it will be lowered. Your unpaid taxes will accrue interest. The paying off of taxes is known as payment options/plans, installment agreements or payment agreements.
