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More (formerly) rich and famous tax woes

October 22, 2009

Living_Colour_Cult_of_Personality Who knew that Living Colour was a prophet in addition to being an '80s rock band. But here we are, 20-plus years later, still a global Cult of Personality.

Sometimes those personalities we follow incessantly on TV and the Internet collide with the tax collector. I've blogged about many such cases over the years.

Today, TaxProf Blog has a rundown of the latest famous tax miscreants that slipped by me while I was focusing on other tax events.

Is it just a coincidence that as we approach World Series play, so many baseball players are encountering tax problems?

But they're not alone. Here's your latest fix of celebrity tax curiosity and schadenfreude.

Ron Darling: The former New York Mets pitcher has been hit with a $446,673 IRS tax lien and state liens of $84,860 by California  and $12,664 by New York.

Livan Hernandez: The current Washington Nationals pitcher is facing an IRS tax lien of $307,268 and another from California tax authorities of $30,000.

Darryl Strawberry: The former New York Mets right fielder has had tax liens filed by the IRS for $250,184 and California for $303,839.

Nas: The rapper, whose full name is Nasir Jones, has had an IRS lien of almost $2.6 million filed against him.

Anna Nicole Smith estate: Executors of the late pop culture icon's estate are dealing with an IRS lien of $125,113 and one from California of $43,281.

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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