Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Celebrity Tax Lore
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Death of Two Heiresses Highlights Absurdity of Estate Tax Repeal
Daily Finance, Casey Johnson and Ruth Lilly: A Tale of Two Heiresses, Tax Loopholes, and Tequila, by Sarah Weinman: At first blush, Casey Johnson and Ruth Lilly, who died within days of each other around the new year, could hardly have been more different. Johnson, who died at 30, was a party animal who lived…
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IRS Hits Arizona Cardinals’ Pro Bowl Safety With $2.2m Tax Bill
Forbes, IRS Hits Cardinals' Antrel Rolle With $2.2 Million Bill; Football Safety Sues After Audit Nixes His Big Charitable and Business Deductions, by William P. Barrett: The IRS says Arizona Cardinals safety Antrel Rolle understated his taxable income by more than 50% during his first two years in pro football, sending him a $2.2 million bill for…
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What Law School Taught Former Texas Tech Football Coach Mike Leach
In the bizarre timing department: Less than a month ago, Texas Tech fired football coach Mike Leach for seeking an injunction to force the school to permit him to coach in the Alamo Bowl after suspending him for allegedly mistreating one of his players, the Texas Tech Law Review has published an article by the ex-coach, A Legal Education…
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Steven Colbert on Estate Tax Repeal
At the 48-second mark: The Colbert Report Mon – Thurs 11:30pm / 10:30c
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Golfer Jim Thorpe Gets One-Year Prison Sentence for Tax Evasion
Golfer Jim Thorpe was sentenced today to one year in prison by the U.S. District Court in Orlando for failing to pay over $1.6 million in taxes in 2002-2004, during which period he earned over $5.2 million of income. Thorpe has won over $13 million in his career on the PGA and Senior Tours. Bloomberg Orlando Sentinel Prior TaxProf…
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UK Taxman Scares Off Sports Stars
The Sunday Times, Taxman Scares Off Top Sport Stars; New Rules Threaten to Drive Away Some of the Biggest Overseas Names from Showcase Events in Britain: Britain’s sporting calendar is in danger of being decimated by a new threat: a harsh tax regime blowing in from the government. Some of the world’s top sports stars are…
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Martin Luther King, Jr. and Tax
In honor of Martin Luther King, Jr. Day: reports on how some southern officials tried to use state tax laws to stop King and the nascent civil rights movement: "In Alabama, … Governor John Patterson in early 1960 directed state revenue authorities to charge Martin Luther King, Jr., with tax evasion and perjury in completing…
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After Paying $70m in Taxes, Nicolas Cage Owes IRS $14m More
People Magazine: Nicolas Cage Will Pay IRS $14 Million: Nicolas Cage is determined to get his financial house in order and to pay the IRS all that he owes in back taxes. While the government recently placed a tax lien on his real-estate holdings, including an additional $6.7 million from 2008, "over the course of…
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Tennessee Tax Lawyer’s Farewell to Lane Kiffin
I previously blogged the musical stylings of Tennessee Tax Lawyer Anne M. McKinney (Ballad of Timothy Geithner; Circular 230 Lament). Here is her Ballad of Lane Kiffin on his abrupt departure to USC:
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Glenn Beck as Tim Geithner?
Politico reports that Glenn Beck, who has been on the front lines in criticizing various "tax cheats" nominated for, and serving in, the Obama administration (e.g., Lael Brainard, Greg Craig, Tom Daschle, Tim Geithner, Nancy Killefer, Ron Kirk, Capricia Penavic Marshall, Kathleen Sebelius, Hilda Solis, Sonia Sotomayor), has his own tax "accident": Their tax issues…
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Tax Consequences of Extreme Philanthropy
Following news of Rick Warren's dramatic appeal for $900,000 in contributions in 48 hours to close a year-end budget shortfall, and his Saddleback Church congregation's response of $2.4 million in gifts, Len Burman (Syracuse) blogs the tax consequences of Rev. Warren's extreme philanthropy (he "reverse tithes" — he gives 90% of his income, including royalties from his The Purpose-Driven Life book, to his church…
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Dave Barry: Obama Blames Bush Administration for Tax Code
Dave Barry's Year in Review 2009: JANUARY . . . The No. 1 item on the agenda is fixing the economy, so the new administration immediately sets about the daunting task of trying to nominate somebody — anybody — to a high-level government post who actually remembered to pay his or her taxes. Among those…
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‘Girls Gone Wild’ Founder Joe Francis Sues IRS for Retaliatory Tax Lien
Web CPA reports this morning that Girls Gone Wild founder Joe Francis has filed a lawsuit against the IRS for illegal collection activities: [S]hortly after the judge accepted his plea deal [he pleaded guilty to two misdemeanor counts of filing false tax returns and was sentenced to the nearly year in prison that he had already served and required to pay $250,000 in…
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IRS Files $1m Tax Lien Against Denny McLain
The Detroit News reports that the IRS has filed a $1,019,998 tax lien against former Detroit Tigers' pitcher Denny McLain, the major leagues' last 30-game winner: The tax trouble represents lingering fallout from an embezzlement, money laundering, mail fraud and conspiracy conviction tied to the theft of millions in pension funds from the Peet Packing Co.…
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The Impact of the Tiger Woods Scandal on His Charities
Today’s Orange County Register has a great article on the impact of the Tiger Woods scandal on his three charities [click on the links for the latest Form 990 for each]: The Tiger Woods Charity Event Corp. The Tiger Woods Foundation The Tiger Woods Learning Center Foundation From Tiger Woods’ Charities Raised $50 Million. What…
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IRS Files $8.15 million in Tax Liens Against Sinbad
The IRS has filed $8.15 million in tax liens against comedian/actor Sinbad (David Adkins) and is seeking to force the sale of his house to partially satisfy the tax debt. From the Detroit News: On Dec. 11, the day after the government filed the case, Sinbad filed Chapter 7 bankruptcy in California, listing between $10…
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John Grisham Disses Tax Law (Again)
From The Faculty Lounge: I read John Grisham's book, The Associate, this week. … In a brief part of the book, the main character (a recent Yale law grad) is preparing for the bar exam. This sentence caught my eye: "During three years of law school, they had dreaded the day they would be forced to…
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Black Eyed Peas’ Tax Problem
A lawyer for the Black Eyed Peas is accusing the hip-hop supergroup's manager of failing to file income tax returns for its touring operation going back as far as eight years. Huffington Post Slate The Wrap (Hat Tip: Eric Chiappinelli, Ann Murphy.)
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Charitable Giving (and Deductions) With the Good Card
Illinois Law Profs Suja Thomas and Christine Hurt (and Kevin Bacon) extol the Good Card: Looking for that perfect holiday gift? Go with a Good Card! The Good Card is a gift card with stored value that can be redeemed as a donation to any of more than 1.8 million charities. Christine notes: Of course, since I'm a…
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Another Tax Shoe Drops in Tiger Woods Affair(s)
Following up on Monday's post, Tax Consequences of Tiger Woods' Marital Troubles: on Friday's Today show, Jamie Jungers claimed to have spent the night at Tiger Woods' home while wife Elin Nordegren was away. She claimed that she was not paid for her services and has never worked for, and did not even know, escort-service owner Michelle Braun. Visit…
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Civ Pro Rappers
Two years ago, I blogged my civil procedure colleague Adam Steinman's tax rap: Robert Bone (Boston University) offers this civil procedure rap: (Hat Tip: Most Strongly Supported.)
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Jerry Springer & Chesty Love Discuss Tax Court Decision Allowing Depreciation of Her Breast Implants
Ann Murphy (Gonzaga) passed along this celebrity tax tip: Jerry Springer and exotic dancer Chesty Love discussing the Tax Court's decision allowing her to depreciate the cost of her silicone breast implants in Hess v. Commissioner, T.C. Summ. Op. 1994-79 (May 4, 1994). From the opinion (citations omitted): At the urging of her agent, in 1988, petitioner…
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Tax Consequences of Tiger Woods’ Marital Troubles
Don't Mess With Taxes, Tiger Tales, Taxes and Divorce Tax Girl, Taking Tiger by the Tax Tale Wills, Trusts & Estates Prof Blog, More on Tiger Woods' New Marital Agreement Wills, Trusts & Estates Prof Blog, Price for Cheating — $5,000,000
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IRS & California Slap $1.9m Tax Liens Against Pamela Anderson
The IRS ($1.7 million) and California ($250,000) have slapped tax liens on actress Pamela Anderson.