Christie Brinkley Becomes a Tax Rascal
Categories: Entertainment, Featured
The quad married, thrice Sports Illustrated, ex-Mrs. Billy Joel owes half a mill to Uncle Sam
There’s nothing we here at Tax Rascal love more than a celebrity tax scandal to distract us from the Tolstoyean tax drama of Congress. The latest celebrity to get on the IRS’s bad side is Christie Brinkley, the supermodel and former Uptown Girl.
The New York Daily News reports that “the lien is on her address at the towered mansion on Brick Kiln Road in Bridgehampton, where she resides.”
A representative said that Brinkley “was surprised to hear today that a tax lien had been filed and has instructed her team to resolve the matter immediately.”
Ms. Brinkley herself said the lien was the “result of an error” and pledges to pay the debt in full by Wednesday. She was distracted from her finances by her parents, who are facing “serious health issues.”
With this Brinkley joins the peerless caravan of celebrity talents such as Kirstie Alley and Wesley Snipes who have made the celebrity tax scandal honor roll.
Unfortunately for Brinkley, a tax lien is one of the IRS’s harshest measures. As the blog PriorTax writes,
One of the nastiest weapons in their arsenal is the tax lien. A tax lien gives the IRS claim to your property as security or payment towards taxes owed. Your property here can mean your paycheck from which the IRS can excise a percentage of your income. Or, in the worst possible case, it can involve seizure of your home to satisfy your debt.
But Brinkley, who made her debut on Broadway earlier this year as Roxie Hart in Chicago, is reportedly worth $80 million and should be able to scrape together a measly $500,000. Ordinary folks out there aren’t always that fortunate.
If you have a tax lien filed against you and you don’t pay up, the tax man can “seize your assets and sell them at public or private sale in order to satisfy your tax debt.” As such, “ It’s not uncommon these days to hear of homes sold for back taxes.”
he best thing to do, if you owe back taxes or haven’t filed a return in past years, is to get right with the IRS to make sure the same thing doesn’t happen to you.