I just saw an article in Accounting Today that Val Kilmer is being leined by the IRS for close to $500,000. While not in the scope of Nicolas Cage or Willie Nelson (who had to sell a golf course to pay off his taxes), it still is a pretty big amount. See the article here:
http://www.accountingtoday.com/news/IRS-Files-Tax-Lien-Against-Val-Kilmer-56794-1.html
To all my client’s who have business managers and other people helping with their taxes: it is not a bad idea to take at least a little interest in your tax returns. At least look them over and ask questions if things look at little funny. Too many times people don’t take responsibility for their returns, but to the IRS they are the responsible parties. As a preparer who tries to make sure everything is right before I even discuss final tax information with you the client, I really like it when you do ask me questions; it means you are interested in the things I prepare for you; you don’t just dump it on me and say take care of it.