The glitz, the glamour, the wealth- we all would love to be in the lives of rich superstars, but sometimes everything that glitters isn’t gold! These celebrities owe more money to the IRS than their bank accounts can cash, and have landed themselves in serious hot water. Check out 15 celebrities that are no longer cashing in the big bucks, and may be weeping in their accountant’s office!
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It may take a lot more than you expected to unbreak Toni Braxton’s heart, about $50 million to be exact! Braxton filed for bankruptcy for her second time in 2010, citing debts ranging from $10 to 50 million. Braxton has also be accused of frauduently wiring $53,490 to her ex-husband, money that was originally given to her in order to pay off debts! When asked how she acquired so much debt, she told 20/20 interviewers, ““I love dishes and house things, so I kind of lost it a little on housewares.” Wonder how much her china cabinet is worth!
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Lawyers fees, court expenses and debt! Lindsey Lohan always had a lot going on, and now that she is beginning to get her life back in order she has to pay it forward, literally! Lindsay was apparently $93,000 behind in taxes since 2009 and still has not gotten anything settled. Lohan also allegedly owes $300,000, $40,000 in wages to her unpaid personal assistant, and most recently declined a half million dollar offer to participate in the popular ABC show, “Dancing With The Stars.” The Hollywood starlet is apparently, “working on her acting career.”
This former NFL star owes big loot! He has about $6.7 million in debts including creditors, child support and alimony. His $6.4 million in assets, including his 240 pairs of Jordan’s and $2,250 watch may not be enough to get him off the collections list, especially when he is only bringing in $115,000 a month. The football star also admitted in April 2012 to owing $942,000 in back taxes from 2006 and 2010.
Sharon & Ozzy Osbourne
This couple may have once been considered one of the wealthiest couples in Britain, but now well, they are borderline broke. The couple nearly lost their home a couple years ago after owing $718,948 in 2008 taxes and $1,024,175 for the prior year. The Osbourne’s recently paid $700,000 toward their debt, and many say it came from Sharon’s pay from America’s Got Talent.
A while ago, in 2009 to be exact, rapper Method Man got his luxury 2008 Lincoln Navigator repossessed due to $50,000 in debt he owed the State of New York. Sources say Meth is taking his sweet time paying off debts he owes!
Funnyman Chris Tucker is definitely not laughing all the way to be bank these days! He should be working to pull himself out of his giant $11.5 million IRS debt he has found himself in. The comedian has decided to take a couple of stand-up gigs to pay down his debts, even joking about his debt in his skits saying, “That’s the last time I let Wesley Snipes help me out with my taxes.” Don’t take it too lightly Chris, you may earn yourself a new cellmate.
The CSI star may be drowning in the deep end and decided bankruptcy was his only solution. Dourdan has acquired debts of $1,689,704 million dollars, owing the majority of money to various banks. One of those banks is Union Bank, Gary’s mortgage lender, and worst enemy. The star has been in an ongoing lawsuit with Union Bank for over a year with claims that they denied him mortgage assistance. Dourdan also says that he only has $341 a month in disposable income, with the rest of the $14,562 he earns a month going toward bills.
This British beauty may still be fighting with her vicious temper and drug addiction, but those aren’t the only problems Naomi has to worry about. Her $64,000 IRS debt may be quite the nail-biter too! Campbell allegedly owes the huge lump sum for failure to pay taxes since 2009.
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Lionel Richie’s net worth is $200 million, so why does he owe the federal government $1.1 million? The father of Nicole Richie, and The Voice star forgot to pay off the rest of his tax debts for the 2010 season. Hopefully Richie will get some money together before the deadline of that big fat lien the government issued.
You want to meet the $34 million debt man? Well, look no further! He may know how to pack a punch, but he sure doesn’t how to manage his money. Although the legend has made about $330 million over the span of his career, he has managed to build up $34 million in loans, credit, back taxes and a mass of other foolishness. He even told sources regarding his debt, “The first stage of my life was just a whole bunch of selfishness. Just a whole bunch of gifts to myself and people who didn’t necessarily deserve it.” It may be a little too late for Tyson to be picking up any new fights so who knows how he is going to pull himself out of this one.
MC Hammer was broke, and everyone knew it, including Jay-Z who put his financial woes on blast in “So Appalled,” saying, “And Hammer went broke so you know I’m more focused/ I lost 30 mil so I spent another 30/Cause unlike Hammer 30 million can’t hurt me.” Jay wasn’t wrong though. In 1996, Hammer found himself in an economic bind, including his $13.7 million worth of debt. It’s been said Hammer has finally paid Uncle Sam, paying his last $700,000 last year.
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Wesley Snipes already landed himself a three year jail sentence for tax evasion, and it seems things keep getting worse for the Blade actor, even behind bars. Snipes has recently been served a lawsuit regarding a $29,000 credit card bill he failed to pay to American Express. He will be asked to pay the bill, and pay American Express’ legal fees. It’s a hard knock life!
Wyclef Jean may have once wanted to run for president of Haiti, but once word spread that brother man may have been misappropriating funds, things got a little murky. Wyclef was not only $2.1 million in debt to the IRS; he also allegedly decided to take the money donated to The Wyclef Jean Foundation to pay himself and his employees, even though the money was meant for surviving earthquake victims!
Ok, so maybe Jay- Z isn’t really in debt, but he was about to be! Apparently, Mr. Carter was $50 million short a while back from a hotel deal that went wrong. Luckily he signed his deal with Live Nation just in time to cover any debts that were coming his way! And of course, he also has the support of his $330 million wife.
Nicolas has decided the best way to get himself out of that $624,934.64 tax debt he got himself into is by doing what he does best: act. The actor doesn’t plan on retiring any time soon, until they lift that fat lien the IRS handed out to him last year.