A Business Week article titled “Prince Failed to Comply With IRS Summons Over Taxes, U.S. Says” shows just how far worldwide taxing authorities are willing to go to collect what they are due. According to the article, Prince Rogers Nelson known as recording artist Prince, is in need of some tax relief because he did not comply with an IRS summons sent on behalf of French tax authorities who are trying to determine his tax liability for the two years he performed in France.
The IRS summons asked Prince to appear “to examine the French income tax liability of Mr. Prince Rogers Nelson for tax years 2009 and 2010.” According to the documents filed yesterday in federal court in Minneapolis, Nelson (Prince) did not respond and there is no comment from his legal team to support or deny this story.
Prince may have needed tax help with this tax issue in July 2011 when the original French government request came by letter asking Prince for additional information about the two years he entertained in France and about his relationship with Paisley Park Enterprises, the production and recording company.
A hearing on the matter is scheduled for Oct. 18 before U.S. District Judge David S. Doty. This is probably not the final word with Prince’s tax debt issue – stay tuned for future details.
Prince’s story highlights the fact that you can run but you can’t hide from taxing authorities; they will find you, often with assistance from other taxing authorities such as the IRS to collect back taxes no matter where you live in the world.
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