- Days left
Actor Wesley Snipes was cleared of the most serious charges in his criminal tax evasion trial, but he's still going to do spend some time in the pokey.

Yesterday, a federal judge William Terrell Hodges of Federal District Court.sentenced him to 3 years in prison for willfully failing to file a tax return. That's the maximum sentence for the 3 misdemeanor counts, and it seems that the judge is looking to make an example of Snipes. He also must pay $17 million in back taxes plus interest and penalties.

Mr. Snipes' lawyer said he would appeal.

Wesley Snipes is the most prominent example in years of the government's efforts to crack down on tax deniers -- people who claim that they are not obligated to pay taxes.

For some examples of the arguments tax deniers use -- and why they don't work, check out this great series from Tracy Coenen.

Increase your money and finance knowledge from home

Building Credit from Scratch

Start building credit...now.

View Course »

How to Buy a Car

How to get the best deal and buy a car with confidence.

View Course »

TurboTax Articles

What is Form 1095-C: Employer-Provided Health Insurance Offer and Coverage

The Affordable Care Act, or Obamacare, requires certain employers to offer health insurance coverage to full-time employees and their dependents. Further, those employers must send an annual statement to all employees eligible for coverage describing the insurance available to them. The Internal Revenue Service (IRS) created Form 1095-C to serve as that statement.

What is IRS Form 8379: Injured Spouse Allocation

The Internal Revenue Service (IRS) has the power to seize income tax refunds when a taxpayer owes certain debts, such as unpaid taxes or overdue child support. Sometimes, a married couple's joint tax refund will be seized because of a debt for which only one spouse is responsible. When that happens, the other spouse is said to be "injured" and can file Form 8379 to get at least some of the refund.

What are 1095 Tax Forms for Health Care?

The Affordable Health Care Act, also known as Obamacare, introduced three new tax forms relevant to individuals, employers and health insurance providers. They are forms 1095-A, 1095-B and 1095-C. These forms help determine if you need to comply with the new shared responsibility payment, the fee you might have to pay if you don't have health insurance. For individuals who bought insurance through the health care marketplace, this information will help to determine whether you are able to receive an additional premium tax credit or have to pay some back.

Add a Comment

*0 / 3000 Character Maximum