Purple Rain: Prince ponies up $368,000 to save Minnesota property from foreclosure
How tall is Prince? Dude is a diminutive 5’2.”
But height doesn’t matter when you’ve got deep ass pockets that can cut checks for $368,000 without batting a fake eyelash.
That’s exactly what the little man did last weekend, saving a 20-acre, $1.15 million piece of property he owns in Chanhaseen, Minn., from heading to a foreclosure auction.
Sure, “Mr. Nelson” defaulted on a loan from Bank of New York Mellon Trust Co., which scheduled a now-canceled Sheriff sale for May 13, 2011.
He probably just didn’t feel like paying it at the time.
Same goes for the $1.3 million he just coughed up for current and delinquent property taxes that were owed from 2009 and 2010, as well as the tax bills from 2006 and 2008 that he still apparently owes Uncle Sam.
Prince just makes it rain when he wants it to rain, Shorty. It’s that simple
I know, I know, I know … times are changing.
Nicolas Cage So Drunk He Forgot His Address
Nicholas Cage, 47, was arrested on Saturday in New Orleans. It was reported that he was so intoxicated he forgot where he lived. Cage allegedly pulled his wife, Alice Kim, by the arm to the home he thought was their rental. Kim was trying to explain that wasn’t their home. This is what caused an onlooker to call the police.
The police report reads, “The actor then began striking vehicles and later attempted to get into a taxi.” At that point, an officer who had been flagged down by onlookers drove up on the couple, immediately observed that Cage was heavily intoxicated and ordered him out of the cab, which prompted Cage to start yelling. “Why don’t you just arrest me?” The officers again told Cage to go home, and Cage allegedly dared them to arrest him again.
He was then detained on one count of disturbing the peace and one count on domestic abuse. Later, he was released on $11,000 bail.
Cage just keeps sinking further down with his already domestic battery charge and a $14 million tax bill-despite his $40 million salary last year.
Cage had six homes foreclosed on and four federal tax liens filed against his properties in three different states.
Celebrity tax evaders who owe the IRS money
Most Americans are scrambling across the United States to get their taxes filed before the deadline expires. Some filthy-rich celebrities, meanwhile, likely are not as concerned, feeling as though they are too awesome and untouchable to be bothered.
This year, procrastinators have three extra days to delay the inevitable with the deadline being pushed to April 18 (not April 15) in honor of Emancipation Day. With this extension, perhaps it can help those celebrities who have been getting themselves in financial trouble throughout the year.
But let’s not get too crazy.
That’s because history proves that certain celebrities have been caught with their hands in the IRS’s cookie jar. Whether its foreclosure, tax evasion or straight up defiance, the seemingly rich and famous are not immune to the financial troubles that affect us poor common folk.
Some celebrities probably think they’re slick and can outsmart the IRS. Anything is possible, but the celebrities mentioned below definitely are not among them:
Celebrity news: Osbournes owe IRS $1.7 million in unpaid taxes
Uncle Sam now has his eye on heavy-metal rock legend Ozzy Osbourne along with his wife and manager, Sharon.
And he isn’t interested in the music or the reality TV shows.
Not even close.
Several reports indicate that the celebrity couple owes the IRS more than $1.7 million in unpaid taxes.
In fact, the big bad Tax Man placed a lien on their Los Angeles, Calif., home. It will be released once they pay back the $718,948 from 2008 and $1.024 million from 2009.
Over the weekend, Sharon told her followers on Twitter:
“You can’t rely on anyone but yourself. But you have to be on top of your own business affairs. My fault … lesson learned.”
This isn’t the first time the Osbourne’s have gone off the rails. The State of California filed a lien last month on their daughter Kelly Osbourne, who apparently owes $34,000.
Crazy, but that’s how it goes.
Nate Dogg death doesn’t prevent foreclosure
Welcome, ladies and gentleman (and I use those terms super loosely … again), to our second posthumous foreclosure.
First, it was the late actress Brittany Murphy. Now, it seems as though the recently deceased rapper Nate Dogg has joined the immortally distressed real estate club.
TMZ.com reports that popular hip-hopper, who battled myriad heart- and stroke-related health problems, had fallen behind on his mortgage prior to his untimely death last month at the age of 41.
And on March 17, 2011, just two days after his passing, the bank initiated foreclosure proceedings on his Pomona, Calif., home, looking to recoup the $5,925.12 of late payments that date back to Dec. 2010.
So much for resting in peace.
