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International popstar Shakira is in more hot water with the Spanish government. The singer has been charged with tax evasion. Shakira Isabel Mebarak Ripoll’s, known as Shakira, tax problems started because of where she was claiming her residency. Shakira claimed she was living in the Bahamas from 2011 through 2014, but Spanish authorities say the singer was residing in Spain. The authorities say this allowed Shakira to forgo paying millions of dollars in taxes. Spanish authorities say Shakira owes more than 14.5 million euros ($16.4 million U.S. dollars) in unpaid taxes and are trying to hold her criminally responsible for the unpaid taxes because she took steps to conceal her residency.
Under Spanish law, if you spend at least a half a year and a day in Spain, you are considered a Spanish tax resident and you are subject to tax on all worldwide income.
We’re in an era in which more small businesses are launching like wildfire. Many people find starting a small business of their own as easy as a piece of cake. However, most of the time, what they fail to prioritize are some of the major players involved in smoothly operating their small business. A...
Do you know why most married taxpayers go for filing joint tax returns? It’s actually because of the benefits that it offers. But with joint tax returns, both the filers hold the responsibility for the tax bill or any penalties and interest that arise from it. Both are legally responsible for the entire liability, even...
What if you owe so much in taxes that you can’t see your way out of it? If you owe back taxes, you might not think there is a way you can ever pay things off. And the more those back taxes have accumulated, the deeper the hole. But that doesn’t mean you can’t dig...
Tax Audits are one of the most terrifying things a taxpayer can endure. Most taxpayers don’t know what being audited by the IRS entails and usually don’t know what to do if they are audited. IRS audits can be confusing to most taxpayers as most don’t know what the IRS is looking for when they...
Receiving a letter from the IRS can be intimidating, especially if you’re unsure what the notice is for or what to do next. Fortunately, many notices are nothing to worry about and are purely informative. Below, we look at everything you need to do — and what not to do — after getting a notice from the...
The Internal Revenue Service (IRS) is increasing audits on cannabis businesses — the agency is on a mission to ensure that cannabis businesses adhere to the tax code. Unfortunately, cannabis companies must comply with more strict tax laws than other businesses and can claim fewer deductions. Most business owners don’t realize this or aren’t able to meet the reporting responsibilities on their own. If you own a business in...