Mamma Mia! That’s a big tax bill!

January 5, 2007

Swedish tax officials say ABBA star Bjorn Ulvaeus owes $2.1 million for decades-old undeclared royalties from
the supergroup’s hits. Authorities suspect royalty
payments to Ulvaeus were made to companies operating in foreign tax
havens.

Abba_waterloo_1
The Associated Press reports that this is the second time the Swedish Tax Authority has gone after the 61-year-old singer for allegedly unpaid taxes.

Last year, the statlig skatt samlaren (I think that’s "tax collector" in Swedish, but I’m at the mercy of an online translator, so … ) claimed Ulvaeus owed almost $13 million in back taxes,
fees and interest on unpaid taxes related to contracts he signed before
his 1984 move to England.

In the contracts case, Sweden eventually agreed to reduce the tax bill to around $9.5 million,
but Ulvaeus appealed the case. It’s pending.
No response yet from the singer or any of his people on the royalties allegations.

Although the group last performed together in 1982, its continuing popularity is inexplicably (but obviously that’s just me …) evidenced by the musical Mamma Mia, a hit on Broadway and in touring companies worldwide, and the more than 370 million ABBA albums that have been sold.

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Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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