The Prince of Darkness VS. the IRS.

Via on Apr 13, 2012
Photo: Focka

It has recently entered the public domain that rock star Ozzy Osbourne and his wife, Sharon, owe almost $2,000,000 in back taxes to the IRS.

In fact, the IRS has placed a lien on the Osbourne’s beautiful Los Angeles mansion. This may mean that if they don’t pay up soon, they are in danger of losing their home. Ouch!

This isn’t the first or last time a celebrity has had tax issues. In the early ’90s, country singer Willie Nelson received a whopping tax bill of $16.7 million. The IRS claimed that from 1978 to 1982, Willie did not pay $6.5 million in income taxes. Add on $10.2 million in penalties and interest, and you have a hefty sum. Luckily for Nelson, many of his fans bought his possessions from the estate sale and later returned them to him. Willie later released an album, The IRS Tapes: Who Will Buy My Memories?  This was released in conjunction with the IRS to help relieve his tax burden.

Going back to the Osbournes, it is heartwarming to know that they passed on their tax-avoidance values to their daughter, Kelly. California recently filed a lien against her for $34,000 of back taxes owed.

Hopefully Ozzy can go back on tour this summer and bite off a few more bat heads to enhance ticket sales and pay off his debts. Perhaps, however, mother knows best.

You can’t rely on anyone but yourself. You have to be on top of your own business affairs. My fault.  Lesson learned,” Sharon tweeted in regards to the ruling.

I guess even the Prince of Darkness is no match for the IRS!

*Author’s Note: This blog was written last year but is one of my seasonal favorites and I thought you would enjoy it.

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Editor: Brianna Bemel

About Jeff Bogart

Jeff Bogart is a Registered Investment Advisor who lives in Cleveland Heights, Ohio. He has been practicing yoga for over eight years and has been helping people with their investment and planning issues for over 25 years. He recently decided to merge two of his passions, yoga and investing and created the website yogicinvesting.com. He and his Belgian sheepdog, Carlos Santana, participate in Therapy Dog programs, specifically, hospital and nursing home visits and children’s reading programs.

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