Soccer Star Will Have to Go to Trial for Alleged Tax Evasion
The ongoing tax saga of soccer star Lionel Messi will continue. That news comes after a judge in Spain ruled that the Barcelona FC star would indeed have to stand trial for tax fraud charges in association with his many endorsement deals with foreign companies. The news comes just days after a report stated that Mr. Messi would not have to go to trial, and that only his father would face the courtroom.
Not So Fast
However, the Spanish judge ruled otherwise and said that Mr. Messi and his father should both have to go to trial. Even though his lawyers argued that Mr. Messi did not have any hands-on dealings with his endorsement contracts, the judge ruled that he “couldn’t have ignored” that a large part of his revenue was coming from foreign companies. If he is convicted, the soccer star could receive a sentence for as long as 22 months.
No Jail Time Likely
However, the good news for Mr. Messi is that even if he is found guilty of the charges he will most likely not spend any time behind bars. That’s because sentences for financial crimes shorter than two years are typically suspended according to Spanish law. In addition, Mr. Messi and his father have reportedly either already paid, or have agreed to pay, the missing tax money, plus interest.
Revisiting Your Will
[vc_row][vc_column][vc_column_text] Revisiting Your Will The importance of having a will cannot be overemphasized. It’s not simply the way that you direct the distribution of your financial and personal assets. Your will also enables you to designate an executor (or personal representative) who will act in your stead to meet your obligations and steer your assets…
Tax Tips for New Ecommerce Entrepreneurs
Tax Tips for New Ecommerce Entrepreneurs New ecommerce entrepreneurs can find them confused and confounded by the tax and accounting requirements of their venture. And that’s a shame: If someone’s spotted a great new category and successfully built a web presence, heck, that someone shouldn’t find themselves bogged down with the accounting minutia. The entrepreneur…
HERO Act Expands IRA Options for Military
HERO Act Expands IRA Options for Military Members of the military serving in Iraq, Afghanistan and other combat zone localities can now put money into an individual retirement account, even if they received tax-free combat pay, according to the Internal Revenue Service. Under the Heroes Earned Retirement Opportunities (HERO) Act, signed into law on Memorial…
Dealing with IRS Collections
Dealing with IRS Collections There are times when taxpayers are unable to pay amounts owed the IRS on a tax return or as a result of an audit. Presuming there is no disagreement about the tax liability, just a lack of funds to pay, the taxpayer is best served by avoiding the collection process. There…