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Thread started 05/20/13 9:00am

kitbradley

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Mary J. Blige’s Money Situation Goes from Bad to Worse

I just don't get why someone who sells like she has, tours worldwide and has perfume lines can be so blind and allow their finances to get this out of control??? disbelief


Oh Lord. Mary J. Blige‘s financial situation continues to worsen. Specifically, it’s quadrupled!

Here’s what TMZ is reporting:


Mary J. Blige’s financial woes have QUADRUPLED — on top of the $900k she allegedly owes the Garden State, TMZ has learned MJB has been slapped with a $3.4 MILLION bill from Uncle Sam.

The IRS filed a federal tax lien against the Grammy winner, claiming she failed to pay all her income taxes for the years 2009 ($574,907.30), 2010 ($2,203,743.53) and 2011 ($647,604.60).

Tax bill grand total: $3,426,255.43. Translation: A LOT OF FREAKING MONEY.

Of course, the IRS needs to get in line … the State of NJ says MJB still owes $901,769.65 in back taxes. Blige is being sued for allegedly defaulting on a $2.2 million bank loan and her charity is facing a lawsuit that claims it took out a $250k loan and never paid it back.


So far, no comment from Mary J. Blige or her team.


http://www.eurweb.com/201...-to-worse/

"It's not nice to fuck with K.B.! All you haters will see!" - Kitbradley
"The only true wisdom is knowing you know nothing." - Socrates
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Reply #1 posted 05/20/13 12:51pm

SoulAlive

disbelief she and her pal Lauryn Hill should have teamed up together,months ago,for the 'Pay My Bills Tour'.

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Reply #2 posted 05/20/13 11:17pm

Cinny

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All That I Can Payyyyyyy

whistle dodo dodo do doo

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Reply #3 posted 05/21/13 2:54am

Chancellor

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Kit.....I know TMZ is on-point with Dirt but I'm having a hard time believing Mary is in that kind of financial shape....She is CONSTANTLY getting a Check for Gigs like nobody else. How in the Hell did she forget to pay her taxes 3yrs in a row? She's not going to say anything publicly. When Patti owed the IRS nearly $300G's last year the media reported it and Patti didnt say a word, but obviously she paid it.

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We're not going to hear from Mary because she's got Millions in the bank and I'm sure if this is legit she's about to cut a check and FIRE her Accountant...I"ll bet you she wasnt Monitoring her Accountant and the Books like she was suppose to. You gots to watch your Money and all the New Celebs have been Schooled by the Old Celebs so there's no excuse...

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Reply #4 posted 05/21/13 4:04am

SoulAlive

hmmm Without question,Mary is capable of making alot of money.I think the problem is,like many other celebrities,she just doesn't know how to save,budget and handle her finances.Toni Braxton has this same problem.They live beyond their means,buying stuff that they think they can afford,making questionable investments,etc.They get accustomed to living the high life but then when the hits stop coming and they're suddenly playing concerts in smaller venues,they don't adjust their spending habits.They don't prepare for the time when their heyday is over.

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Reply #5 posted 05/21/13 4:16am

SoulAlive

The most imoprtant thing for her to do right now is,find a way to pay that tax bill.As we have seen with the Lauryn Hill case,the IRS doesn't play games.They want their money NOW.Maybe she can renegotiate her recording contract and use the advance money to pay the bill?

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Reply #6 posted 05/21/13 4:29am

SoulAlive

Mary J. Blige hit with $3.4M tax lien as IRS claims she hasn't paid her taxes in years

The 43-year-old, who made her fortune on hits like 'Be Without You' and 'No More Drama,' got notice of the $3.4 million lien in February in Bergen County Court, records show.

Comments (46)

PUBLISHED: MONDAY, MAY 20, 2013, 1:01 PM
UPDATED: MONDAY, MAY 20, 2013, 9:27 PM

Singer Mary J. Blige has been hit with a $3.4 million tax lien.

Mary J. Blige has been hurt again — by the taxman.

The sultry singer has been hit with a $3.4 million federal tax lien by the IRS, court records show.

That’s on top of separate liens from authorities in New Jersey, where she has a luxury home in Saddle River.

The 43-year-old who made her fortune on soulful songs like “Be Without You” and “No More Drama” got notice of the lien in February in Bergen County Court, records show.

The IRS filed the same lien again in March in Westchester, where Blige also owns a home, according to court documents.

The IRS said in its lien that Blige failed to pay all her income taxes for the past several years.

Uncle Sam says Blige owes $574,907 from 2009, $2.2 million from 2010 and $647,604 from 2011, the court documents show.

It seems that Blige hasn’t been paying her state taxes either. New Jersey officials are reportedly dunning the award-winning songstress for $901,769 in back taxes.

Blige is in trouble with the banks, too. She was sued recently by the Bank of America in New York State Supreme Court.

The bank claimed Blige took out a $500,000 loan and only partially paid it back. They’re suing her for the unpaid principal plus interest owed — approximately $514,000.

Blige and her husband Martin Isaacs were also sued this past November by Signature Bank for defaulting on a $2.2 million loan.

The nine-time Grammy winner came under fire last year for allowing her Foundation for the Advancement of Women Now to fall into financial disarray. The charity, which helps send girls to college, was slapped with a lawsuit for failing to pay back a bank loan in 2011. The foundation has since been reorganized, with priority given to catching up on arrears, Blige has said.

“Mary has been and is continuing to work with her new team to resolve all these issues as quickly as possible,” a member of her public relations staff said in a statement.

The Bronx-born Blige, who grew up in Yonkers, has been plagued by money problems despite phenomenal commercial success.

NYC PAPERS OUT. Social media use restricted to low res file max 184 x 128 pixels and 72 dpi

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Reply #7 posted 05/21/13 4:45am

missfee

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Oh so that's why she's touring again. I was wondering why all of a sudden folks were buying tickets in my city to see her. So I get it now, thanks. wink

I will forever love and miss you...my sweet Prince.
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Reply #8 posted 05/21/13 5:19am

SoulAlive

After each performance,she should do a backstage meet and greet....charge $20 and allow fans to come backstage to meet her and take a pic.That will bring in a little more cash.
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Reply #9 posted 05/21/13 8:26am

Chancellor

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Mary J & Kem are doing the "Liberation Tour" together....They're coming to South Carolina in June...I'm not going but i'm sure they'll sell out....The name of the Tour def clashes with her Tax issues...Kem should be a Pop King, selling millions of units and winning armfuls of GRAMMYS...The Mainstream still hasnt caught on to him like the R&B world has....His Talent is all his and you know his Voice when you hear it...He's in a category all by himself....We've got GREAT Talent in R&B it just doesnt sell as well as Country & Pop....

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Reply #10 posted 05/21/13 8:44am

Identity

The lesson here is don’t live beyond your means, and get out of crushing debt as quickly as possible. A wise man once wrote: "The borrower is the slave to the lender".

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Reply #11 posted 05/21/13 8:52am

Beautifulstarr
123

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Identity said:

The lesson here is don’t live beyond your means, and get out of crushing debt as quickly as possible. A wise man once wrote: "The borrower is the slave to the lender".

I agree.

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Reply #12 posted 05/21/13 12:15pm

cbarnes3121

just a few months ago on google they reported mary net worth was 45 million now when u go on there and check they saying its 5 million i dont beleieve the hype cuz if mary having money problems whor wiling 2 step up and help??

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Reply #13 posted 05/22/13 11:50am

purple1968

cbarnes3121 said:

just a few months ago on google they reported mary net worth was 45 million now when u go on there and check they saying its 5 million i dont beleieve the hype cuz if mary having money problems whor wiling 2 step up and help??

She could have lost money due to bad investments, bad financial advice, overspending on living expenses. A lot of celebrities are taking care of their entire family and then some.

The thing that is weird is if you do not have the money to pay your taxes you can get a payment plan. Why not file them at all is just bad financial management at an insane level. You know that you have to sign a tax return once a year paying or not paying.

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Reply #14 posted 05/22/13 4:36pm

mjscarousal

Alot of people are blaming the stars for these financial issues but I think the main problem is they have horrible financial advisors. Lets be real, none of these celebs are filing their own taxes. They have people who do that for them. I think they just assume their management has it taken care of.

I am glad the IRS is cracking down and not giving these celebrities any breaks because regardless of how much money you make or how famous you are you still have to pay taxes period.

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Reply #15 posted 05/22/13 4:46pm

Beautifulstarr
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mjscarousal said:

Alot of people are blaming the stars for these financial issues but I think the main problem is they have horrible financial advisors. Lets be real, none of these celebs are filing their own taxes. They have people who do that for them. I think they just assume their management has it taken care of.

I am glad the IRS is cracking down and not giving these celebrities any breaks because regardless of how much money you make or how famous you are you still have to pay taxes period.

From what my mom said about Bill Cosby she says that he once said he handles his own finances.

I do not think it's hard filing your own taxes, and handling your own finances. I have been doing my own taxes, on and off, since 1995, and I told my co-worker that she should train herself how to do it because she's claiming that she's getting the run around from the IRS.

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Reply #16 posted 05/23/13 2:58am

Chancellor

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I'm gonna say this again...Out of ALL the Celebs Mary J. would've been the last Celeb I'd expect to read about...She is ALWAYS every where getting a Damn check...Mary keep money rolling in...There's got to be a whole lot more to this story....

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Reply #17 posted 05/23/13 6:00am

Beautifulstarr
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Chancellor said:I'm gonna say this again...Out of ALL the Celebs Mary J. would've been the last Celeb I'd expect to read about...She is ALWAYS every where getting a Damn check...Mary keep money rolling in...There's got to be a whole lot more to this story.... Are you referring to me?
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Reply #18 posted 05/23/13 6:31am

mjscarousal

Beautifulstarr123 said:

mjscarousal said:

Alot of people are blaming the stars for these financial issues but I think the main problem is they have horrible financial advisors. Lets be real, none of these celebs are filing their own taxes. They have people who do that for them. I think they just assume their management has it taken care of.

I am glad the IRS is cracking down and not giving these celebrities any breaks because regardless of how much money you make or how famous you are you still have to pay taxes period.

From what my mom said about Bill Cosby she says that he once said he handles his own finances.

I do not think it's hard filing your own taxes, and handling your own finances. I have been doing my own taxes, on and off, since 1995, and I told my co-worker that she should train herself how to do it because she's claiming that she's getting the run around from the IRS.

Its easy to say that for people who are use to doing it themselves lol

Nothing against Mary.... but alot of these celebs are not educated in their own finances. Some are but most of them dont do their own and have people who do it for them (for that very reason and I personally dont think there is anything wrong with it). If I had 300 million dollars I wouldnt be doing my finances either lol I would hire the best financial advisors but I would still be aware of what was going on.

Its amazing how oblivious some of these celebs are about their own finances.

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Reply #19 posted 05/23/13 6:49am

mrjun18

Chancellor said:

I'm gonna say this again...Out of ALL the Celebs Mary J. would've been the last Celeb I'd expect to read about...She is ALWAYS every where getting a Damn check...Mary keep money rolling in...There's got to be a whole lot more to this story....

^Agreed!

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Reply #20 posted 05/23/13 7:14am

Beautifulstarr
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mjscarousal said: Beautifulstarr123 said: From what my mom said about Bill Cosby she says that he once said he handles his own finances.I do not think it's hard filing your own taxes, and handling your own finances. I have been doing my own taxes, on and off, since 1995, and I told my co-worker that she should train herself how to do it because she's claiming that she's getting the run around from the IRS. Its easy to say that for people who are use to doing it themselves lol Nothing against Mary.... but alot of these celebs are not educated in their own finances. Some are but most of them dont do their own and have people who do it for them (for that very reason and I personally dont think there is anything wrong with it). If I had 300 million dollars I wouldnt be doing my finances either lol I would hire the best financial advisors but I would still be aware of what was going on. Its amazing how oblivious some of these celebs are about their own finances. Being aware is definitely the key, and not just celebrities, your average Joe needs to be educated in their own finances. I'm still learning, and that never stops wink
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Reply #21 posted 05/23/13 7:22am

Beautifulstarr
123

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neutral

[Edited 5/23/13 7:23am]

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Reply #22 posted 05/23/13 7:53am

kitbradley

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Beautifulstarr123 said:

From what my mom said about Bill Cosby she says that he once said he handles his own finances.

I do not think it's hard filing your own taxes, and handling your own finances. I have been doing my own taxes, on and off, since 1995, and I told my co-worker that she should train herself how to do it because she's claiming that she's getting the run around from the IRS.

I get frustrated filing my taxes every year and I use the EZ forms!lol I can only imagine how many hours or even days or weeks it would take to file someone like Mary J's taxes. And when she's touring and making appearances constantly, I could see where it would be nearly impossible to do it herself, even if she was a tax wiz. That's why these celebrities hire people to take care of that stuff for them. But, they need to do some follow up and look at the final paperwork once it's been done. Never entrust someone else 100% with your finances. I don't care how busy you are, you should always know what's happenin', especially where the IRS is concerned.

"It's not nice to fuck with K.B.! All you haters will see!" - Kitbradley
"The only true wisdom is knowing you know nothing." - Socrates
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Reply #23 posted 05/23/13 8:10am

mjscarousal

Beautifulstarr123 said:

mjscarousal said: Beautifulstarr123 said: From what my mom said about Bill Cosby she says that he once said he handles his own finances.I do not think it's hard filing your own taxes, and handling your own finances. I have been doing my own taxes, on and off, since 1995, and I told my co-worker that she should train herself how to do it because she's claiming that she's getting the run around from the IRS. Its easy to say that for people who are use to doing it themselves lol Nothing against Mary.... but alot of these celebs are not educated in their own finances. Some are but most of them dont do their own and have people who do it for them (for that very reason and I personally dont think there is anything wrong with it). If I had 300 million dollars I wouldnt be doing my finances either lol I would hire the best financial advisors but I would still be aware of what was going on. Its amazing how oblivious some of these celebs are about their own finances. Being aware is definitely the key, and not just celebrities, your average Joe needs to be educated in their own finances. I'm still learning, and that never stops wink

Same! lol

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Reply #24 posted 05/23/13 3:56pm

SoulAlive

kitbradley said:

Beautifulstarr123 said:

I get frustrated filing my taxes every year and I use the EZ forms!lol I can only imagine how many hours or even days or weeks it would take to file someone like Mary J's taxes. And when she's touring and making appearances constantly, I could see where it would be nearly impossible to do it herself, even if she was a tax wiz. That's why these celebrities hire people to take care of that stuff for them. But, they need to do some follow up and look at the final paperwork once it's been done. Never entrust someone else 100% with your finances. I don't care how busy you are, you should always know what's happenin', especially where the IRS is concerned.

Exactly.Oprah Winfrey once said that she is in complete control of her finances and that she "signs her own checks and know exactly where her money is being spent".It's a shame that so many other celebrities aren't the same way.

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Reply #25 posted 05/23/13 4:59pm

728huey

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mjscarousal said:

Beautifulstarr123 said:

From what my mom said about Bill Cosby she says that he once said he handles his own finances.

I do not think it's hard filing your own taxes, and handling your own finances. I have been doing my own taxes, on and off, since 1995, and I told my co-worker that she should train herself how to do it because she's claiming that she's getting the run around from the IRS.

Its easy to say that for people who are use to doing it themselves lol

Nothing against Mary.... but alot of these celebs are not educated in their own finances. Some are but most of them dont do their own and have people who do it for them (for that very reason and I personally dont think there is anything wrong with it). If I had 300 million dollars I wouldnt be doing my finances either lol I would hire the best financial advisors but I would still be aware of what was going on.

Its amazing how oblivious some of these celebs are about their own finances.


yeahthat That's true. People forget that these celebrities are entertainers, and most of them are not savvy about the whole financial world. While some very rich celebrities are blessed enpugh to pick savvy financial and legal advisors who have their best interests at heart, there are plenty of scammy financial advisors, lawyers, and agents who are looking to suck the financial teat of the celebrities they are supposed to be representing. There are countless stories of celebrities who have gone broke and/or went to jail for not paying taxes because their "financial advisors" steered them to horrible investments and made money on the fees. Or you have lawyers who are not versed on tax law advising their clients to take tax deductions they are not entitled to take or are bordering on illegal to begin with.

I can't stress how much everyine needs to see this documentary which aired on ESPN last fall called Broke. It's about how professional sports athletes got themselves into financial messes, but this could apply to anyone in the fields of sports and entertainment.



typing

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Reply #26 posted 05/24/13 2:43am

Chancellor

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Beautifulstarr123 said:

Are you referring to me?

No I just posted after you the following Day...Y'all Orgers are a TRIP....LOL...I'm gonna have to carry me a broken Coca Cola bottle around this joint.....LOL....Beautifulstarr, below is the latest quote from the press..

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"A Blige representative said Thursday she’s working “with her new team to resolve all these issues as quickly as possible.”

http://www.spokesman.com/...-tax-lien/

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Like we suspected she's gonna write a Quick check and be done with it. Whatever is going on I hope this has taught her a lesson....

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Reply #27 posted 05/26/13 5:59am

SoulAlive

She's gonna have to ask her record company to help her out.It would be to their benefit to keep one of their biggest artists out of jail.

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Reply #28 posted 05/26/13 7:12am

Ellie

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They really need to be more financially aware. I think I saw something once with Chris Rock saying how he personally signs all of his outgoing cheques and doesn't give anyone else power of attorney over his finances.

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Reply #29 posted 05/26/13 8:10am

uPtoWnNY

I'm with Ellie - I don't cut these fools any slack. If you're not financially aware, LEARN to be financially aware! Use your fucking brain.

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