Advertisement
taxes

Rich, famous and tussling with the taxman

Taxes » Tax Law » Rich, Famous And Tussling With The Taxman

Wesley Snipes
Wesley Snipes © PR Photos

The star: The versatile screen star may be best known for the "Blade" horror trilogy, but his resume includes performances in drama ("Jungle Fever"), comedy ("White Men Can't Jump") and action films ("Passenger 57").

Amount owed: It's complicated.

What happened: Whether you chalk it up to bad advice or bad judgment, the fact remains that Snipes declared himself a "nontaxpayer" to the IRS  and stopped paying income tax in 1998. Government prosecutors say Snipes failed to pay $15 million in taxes and tried to obtain $11.3 million in fraudulent tax refunds in 1996 and 1997.

The outcome: Snipes was found guilty in 2008 on misdemeanor charges of willful failure to file income taxes for 1999, 2000 and 2001 but was acquitted of felony tax fraud and conspiracy charges. He began serving a three-year prison sentence in December 2010 and was released from prison in April 2013. Snipes has at least one fellow actor in his corner: Sylvester Stallone reportedly welcomed him back to Hollywood with a role in his upcoming "Expendables" sequel.

advertisement

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 4.08%  0.04 4.12%
15 year fixed refi 3.18%  0.03 3.21%
10 year fixed refi 3.21%  0.04 3.25%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.30%  0.03 4.27%
50K FICO-based HELOC 3.96%  0.01 3.97%
100K FICO-based HELOC 3.81%  0.01 3.82%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.75%  0.10 2.85%
48 month used car loan 2.99%  0.07 3.06%
60 month new car loan 3.20%  0.05 3.25%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99%  0.01 0.98%
2 Year CD 1.22%  0.02 1.20%
5 Year CD 1.87%  0.04 1.83%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.76%  0.01 15.77%
Cash Back Cards 16.44%  0.04 16.48%
Low Interest Cards 11.04% --0.00 11.04%
 
Next
advertisement
WEEKLY TAX TIP NEWSLETTER

Our tax expert Kay Bell provides resourceful tips and advice to help you stay prepared for filing.

advertisement

Connect with us