tax evasion

Wesley Snipes is Going to Jail

Wesley Snipes is to begin a three-year prison sentence shortly after having been convicted of tax evasion in the State of Florida.

The Hollywood actor best known for his action roles was found guilty of failing to file income tax returns for 1999 through 2001, despite having earned millions from his film roles. Five other felony charges were dismissed in the trial back in 2008, but Snipes (pictured above at last year's Venice Film Festival) recently lost an appeal for a retrial.

Since his request for a second trial was turned down by US District Court judge, Snipes is expected to be remanded to an as-yet undisclosed penitentiary outside the state in the near future.

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Tags: convict, conviction, court, jail, prison, snipes, tax evasion, wesley snipes

Emmy Swag and a Tax Reminder to Celebs

by Nicole Weston (RSS feed) —

Filed under: Events, Celebrity Shopping

With the Emmy Awards approaching in just a few weeks, the Academy of Television Arts and Sciences (ATAS) took the time to remind celebrities that their swag bags are considered taxable income and need to be reported as such when tax season rolls around. This is no small thing, either. The value of this year's Emmy gifts is estimated to be between $27,000 and $33,000. The ATAS even sent out letters to the presenters asking for compliance with the various tax codes with a waiver to sign, proving that they read it.

One of the reasons that the ATAS is being rather strict is that the IRS reportedly stands to collect over $1million from Oscar bags alone, which were worth over $100,000 each last year, and the ATAS doesn't want to be held responsible for any tax problems stemming from the Emmy Awards.

For a full list of the goodies that the Emmy presenters will be getting, click past the jump.

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Tags: awards, celebrities, emmy, emmy awards, emmy swag, emmys, event, swag, tax, tax evasion, taxes, win, winners