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How can Cecil Fielder owe that much?

Discussion in 'Sports and News' started by Simon_Cowbell, Dec 1, 2008.

  1. Simon_Cowbell

    Simon_Cowbell Active Member

    From an AOL blog:

    So it should come as no huge surprise that Cecil finds himself on the wrong end of an IRS lien (like there's a right end). From the TaxWatchdog at Detroit News.
    Former Detroit Tigers star Cecil Fielder owes $273,123.29 in federal taxes, the latest financial issue facing a slugger who has had a slew of money problems in recent years, records show.


    Now, isn't the statute of limitations to audit taxes three years?

    What could Fielder possibly earned the past three years to have evaded that much in taxes?

    Please, a tax star, enlighten me....
  2. Sea Bass

    Sea Bass Well-Known Member

    Deferred salary?
  3. Mizzougrad96

    Mizzougrad96 Active Member

    The Freep did an amazing story on Fielder's financial woes a few years back.
  4. hockeybeat

    hockeybeat Guest

    Maybe with autograph signings? Generally, those are cash deals. If he didn't report the income...
  5. Mizzougrad96

    Mizzougrad96 Active Member

    Unless I'm mistaken, I think the statute is seven years.

    He's probably making the bulk of his money from card shows and appearances, which a ton of athletes love to demand payment in cash and they declare little, if any of it. I think that's how Pete Rose wound up in jail.
  6. spnited

    spnited Active Member

    There is no statute of limitations.
    Original audit can go back only three years. But if they find errors or inconsistencies, they can go back another three years...etc., etc., etc.
  7. Simon_Cowbell

    Simon_Cowbell Active Member

    What's the difference between an "original audit" and "if they find inconsistencies"?

    I thought that is the idea behind an audit.
  8. spnited

    spnited Active Member

    They can do a random audit of anybody and some people don't have any problems.
  9. Armchair_QB

    Armchair_QB Well-Known Member

    My guess is that the law allows for deeper audits if a problem is found within the three-year window.

    I can't believe the IRS would put a limit into how far back they can look for money.
  10. Simon_Cowbell

    Simon_Cowbell Active Member

    I think you are in the clear, as an individual, after three years without an IRS action.
  11. Simon_Cowbell

    Simon_Cowbell Active Member


    How does the Statute of Limitations affect tax obligations with the IRS?

    The statute of limitations limits the time during which an action can be brought by the IRS for an audit and the time for IRS tax collection activities. Generally, there is a 3-year statute of limitations for the IRS auditing a tax return and a 10-year statute of limitations for the IRS collecting tax.

    Under section 6501(a) of the Internal Revenue Code (Tax Code) and section 301.6501(a)-1(a) of the Income Tax Regulations (Tax Regulations), the IRS is required to assess tax within 3 years after the tax return was filed with the IRS. Similarly, under 301.6501(a)-1(b) of the Tax Regulations no proceeding in court by the IRS without assessment for the collection of any tax can begin after the expiration of 3 years.
  12. PopeDirkBenedict

    PopeDirkBenedict Active Member

    Same page

    The statute of limitations does not apply in the case of a false tax return or fraudulent tax return filed with the IRS with intent to evade any tax. See section 6501(c)(1) of the Tax Code and section 301.6501(c)-1 of the Tax Regulations.
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