Lindsay Lohan's Finances Crumbling Under Tax Pressure

Posted on Jan 07, 2013

Where would the average tax lawyer be without Lindsay Lohan to make an example of? Recently, the ex-child-star made headlines when her new friend Charlie Sheen gave her a $100,000 check to help pay off her huge tax debt. Now, sources are reporting that Lohan is on the brink of losing numerous personal items she has been keeping in storage, which are being auctioned off to settle her storage bill (which probably wouldn't have existed in the first place if she wasn't in hock to the IRS).

Borrowing from an interview by the Huffingtpon Post, quotes a source close to Lohan as saying “Her finances are in a mess...she lives very large, staying at the best hotels and traveling first-class. All the money she earns she spends, and then when it comes to taxes, she has nothing left.”

The Examiner goes on to note, “Lohan is barely able to make her rent now that her bank accounts have been frozen. Sources say she is struggling to scrape together her $8,000 per month rent, and even tried to get out of her lease early.” Much of the problem can be traced to Lohan's outstanding debt to the IRS of $233,000, which may well increase when her 2011 returns are scrutinized.

And what about Lohan's storage items, which are going on the block to clear a $16,000 back storage debt? The Examiner says they include “expensive designer clothes, fancy heirlooms and potentially embarrassing items,” which may well fetch their lucky procurers top-notch prices on eBay.

Are you an Oklahoma resident who owes a hefty back tax bill to the IRS? Contact the Oklahoma tax experts at Travis W. Watkins, PC (800-721-7054) to find out what we can do for you!

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