Stephen Baldwin to Avoid Prison in Tax Case
Posted by Andru Edwards Categories: Movies, Legal Issues,
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Stephen Baldwin is set to agree a deal over an alleged unpaid $350,000 tax bill.
The 46-year-old actor is accused of failing to pay income tax in Rockland County, 15 miles northwest of Manhattan, for the years 2008, 2009 and 2010 but his attorney Russell Yankwitt says he will avoid prison and get up to five years to pay back the money owed, according to Fox News.
He added that under the deal, Stephen will plead guilty this month to a tax felony and if he manages to pay the money back in one year, his record will be wiped clean.
Stephen's arrest for tax evasion in December came six months after a court rejected the born-again Christian's claim that he and a friend missed out on a lucrative contract with oil company BP thanks to Kevin Costner and his business partner in oil cleanup, Patrick Smith.
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Nicolas Cage Settles $6 Million Debt
Posted by Andru Edwards Categories: Movies, Legal Issues,
Nicolas Cage has settled $6 million of his tax debt. The Ghost Rider: Spirit of Vengeance actor has cleared almost half of the $13.3 million debt he owes for taxes in 2002 to 2004 and 2007 after he paid off $6,257,005.
Nicolas has blamed his former business manager Sam Levin for his problems, though he has countered this, claiming actor was overspending. "Over the course of my career I have paid at least $70 million in taxes. Unfortunately, due to a recent legal situation, another approximate $14 million is owed to the Internal Revenue Service (IRS), however, I am under new business management and am happy to say that I am current for 2009. All taxes will be paid including any to be determined state taxes," he said in 2010.
The 48-year-old actor's spending is legendary, and Sam has claimed that by 2008 the star owned "15 palatial homes around the world, four yachts, a Gulfstream jet and millions of dollars in jewelry and art."
Nicolas was forced to sell off many of his assets, including properties in California, Las Vegas and New Orleans as well as a British castle, yachts and a 67-million-year-old dinosaur skull worth $276,000.
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