Posted on 09/24/2014 1:28:50 PM PDT by zeestephen
Former "Jersey Shore" reality series star Mike "The Situation" Sorrentino and his brother underpaid taxes on nearly $9 million in income over the last several years, the U.S. attorney's office charged in a seven-count indictment released Wednesday.
(Excerpt) Read more at tv.msn.com ...
ooops, blew the quote:
“telling the truth to the IRS is not optional”
It’s not his fault. His Blackberry cracked.
Hey,those words kept Lois Lerner out of the slammer.That and "on the advice of my attorney..."
Situation Fails at Roast of Donald Trump
If you feel the need to cringe at someone failing on stage, watch Sorrentino attempt comedy - and bomb spectacularly.
language very NSFW!
Likely a liberal....
And he just got mugged by reality.
Seriously, a lot of people have no concept of what income taxes are, other than an opportunity to get a refund, because of automatic payroll deduction.
The situation just learned about taxes...and if we eliminated automatic payroll deduction, anyone with a job would learn all about taxes.
He essentially was self employed, getting money from many different sources. Most people who have always lived on paychecks are clueless about quarterly tax filings and self-employment taxes.
Most likely, he spent everything that he received and the year after he started making a lot of money found out that he was supposed to send quarterly checks to the IRS for his estimated taxes. So he claimed everything he spent as a "business deduction" so he would not owe any taxes.
Personally, I think EVERYONE should have to pay quarterly taxes. When your taxes are deducted up front, you don't really understand how much taxes you are paying. Filing an income tax return is usually just an opportunity to get a refund. Nothing quite like having to send a check to the IRS every 3 months to make you understand how much of your money the government is taking from you.
Automatic deduction may be easy, but I hate the concept. I want everyone who pays taxes to have to write a big fat check on April 15th....so they gain an understanding of how much they’re paying.
I agree 100%.
I love how people getting a Tax Refund Check think somehow they are sticking it to the government.
The fact is, if you get a refund check, the government is sticking it to you, you gave them an interest-free loan.
That could be an interesting question in tax court.
Since a TV “Reality Star” is a person who makes TV money by doing personal stuff, perhaps everything is a “business deduction” to keep him as a “reality” star?
Essentially no difference between personal and business expenses.
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