NO LAUGHING MATTER WITH THE IRS
The economy touches all classes during this time. I was reading my morning business news on Fox. I came across this article on Sinbad the comedian. I have not heard anything from the famous comedian in years. Voila, the IRS is after Sinbad for owing back taxes. I believe the IRS is trying to collect every dollar they can in order to support the current spending habits in Government during this time. I know one thing. You do not want to owe the IRS back taxes because they have their ways. One can end up in jail for not paying back taxes.
It is estimated that Sinbad owes over $8 million in back taxes. He has been trying to settle with them for the past five years. However, the IRS does not wish to settle this matter. They want to be paid in full including interest and penalties. How much blood can you get from a stone? So, Sinbad file Chapter 7 bankruptcy in the beautiful state of California. Furthermore, they are going after his house. However, it shows that his brother is the current owner. Blood is thicker than water-so they say. It stated that he has well over $60 million in liabilities with only $50,000 in assets. I BELIEVE THIS SCALE IS OVER THE TOP.
Why am I blogging about Sinbad owing back taxes? Am I laughing at Sinbad? The answer to both these questions is NO. He is a perfect example of a person who has made tons of money. However, he did not have a financial plan to long term wealth. Furthermore, paying your taxes is part of that financial plan. Who needs the weight of the IRS on them? Who has the money to hire lawyerss to fight the IRS? They would simply print their own money to pay for their lawyers.
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Folks, the end of 2009 is upon us all. Will you be doing the same thing in 2009 going into 2010? Do you have a financial plan in place for 2010 and beyond? Are you tired in being in the same place year after year? Are you tired of being broke all the time? We are here to assist you to change your ways. Please visit www.deliateam.com
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