Stephen Baldwin is the latest Hollywood actor to find himself in the midst of financial woes. This time, the IRS is involved.
Baldwin, a member of the Baldwin acting family, is facing tax evasion charges. According to reports, Mr. Baldwin failed to pay income tax to the state of New York for years 2008 to 2010. Including penalties and interest, Baldwin is the recipient of a hefty tax bill of over $350,000. Sources say that if convicted, Baldwin could face up to 4 years in jail. Baldwin will face the charges on February 5, 2013.
Baldwin, like many other celebrities who have faced similar tax issues in the past, claims that the situation he is currently in isn’t the result of a willful failure to pay his taxes, but a failure to hire competent tax professionals. As a Forbes article from this morning notes, celebrities are not the only ones who find themselves in complicated tax situations after trusting the wrong tax professional.
Hiring the right tax professional is an important task. Contact Segal, Cohen & Landis, LLP to speak to tax professionals you can trust.Segal, Cohen & Landis, LLP 9100 Wilshire Blvd., Ste. 601E Beverly Hills, CA 90212 (310) 285-3999