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.
Where Do Californians Stand On Taxes?
Where Do Californians Stand On Taxes? California’s high ranking on the tax meter is well documented. The state is among the highest in the nation for both income taxes and business taxes. It ranks high in several other tax categories as well, including sales tax, property tax and even the gas tax. The Golden State…
Why Do California’s Tax Problems Continue?
Why Do California’s Tax Problems Continue? It’s the classic adage made famous from the movie Robin Hood: “Rob from the rich and give to the poor.” Although Robin Hood may have meant well and his actions noble, the idea of taking more from the rich to give to the poor is not always wise when…
Why Do IRS Audit Numbers Continue to Decline?
Why Do IRS Audit Numbers Continue to Decline? No one would voluntarily go through an audit and, in fact, many people would rather experience a lot of other unpleasant situations over going through an audit from the IRS. Let’s face it, being selected for an audit can be a spine-curling experience for many taxpayers. In…
With Congress Now Back What Will it Mean for Taxes
With Congress Now Back What Will it Mean for Taxes Fall is here and that means the rain and wind are on their way back. Congress is back as well and they have a lot to talk about. It’s not exactly clear how much they will get done in the next three months, but they…