MONEY HANDLIN': Angela & Vanessa Simmons Owe $450K In Back Taxes

Jan 04 | by Natasha

Russell Simmons' nieces are having a few money probs. Angela & Vanessa Simmons have been slapped with tax liens by the IRS and the state of California. All to the tune of over $450,000!

Deets inside...

Running a business is hard work. And when you have accountants and managers handling your books and taxes, it's easy for things to get overlooked and to get past you. But when you owe over $450,000...ish can get real. And isn't good for your heiress image.

The Detroit Press just reported that 24-year-old Angela & 28-year-old Vanessa have a rap sheet of tax liens which posted in 2011:

The IRS filed a $26,658 tax lien against Angela Simmons on Dec. 22 with the New York City Register.
The IRS filed a $22,528 tax lien against Vanessa Simmons on Dec. 22 in New York.
The IRS filed a $157,787 tax lien against Vanessa Simmons on Nov. 10 in New York.
The IRS filed a $27,248 tax lien against Angela Simmons on May 20 in New York.
The IRS filed a $132,466 tax lien against Angela Simmons on April 1 in New York.
The state of California filed a $44,253 tax lien against Vanessa Simmons on March 23 in Sacramento County Court.
The state of California filed a $39,538 tax lien against Angela Simmons on March 23 in Sacramento.

Angela's rep hasn't responded to request for statement.

Doubt the girls are lacking in the mula department. But staying on top of finances is all a part of business...

Categories:

Legal Woes

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Comments

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by Anonymous
9:17 am - Jan 7, '12

Natasha, the liens are

Natasha, the liens are personal tax liens that have nothing to do with their business. If the debt was debt owed by their company the liens would have been filed against the company. The debt most likely stems from unreported income stemming from appearances, etc. And on another note- liens don't just magically appear/get filed. I'd wager it takes at least six months to a year before the IRS makes a move on calendar year debt. They were surely notified via mail of the debt and probably asked to respond with a date by which the debt could be paid. Being as though they don't really have careers per se (daily and weekly obligations that keep them busy like Angelina Jolie, Rihanna, Beyonce, etc.) I can't imagine that they are that bi-coastal where the multiple mailings from the IRS to their various homes were missed. Not.a.good.look.

by Anonymous
1:12 am - Jan 5, '12

You could be right, however,

You could be right, however, depending on how the company was set up and how far along this is, the IRS may have pierced the corporate shield to hold them personally responsible for the payroll tax. You are also correct about the timeline. They have ignored this problem for awhile. Certified mail is required for the tax lien. Certified mail from the IRS always means a deadline is on the horizon. Good mentoring/management could have avoided this.

by IBTH
11:06 am - Jan 6, '12

Natasha didn't say the lien

Natasha didn't say the lien was against their business but them. READING IS FUNDEMENTAL. At the end of the day they still owe if they haven't paid yet.

by Anonymous
11:31 am - Jan 5, '12

Ohh child, they must wasn't

Ohh child, they must wasn't using they rush card! #LOl

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by lindalo03
10:56 pm - Jan 4, '12

We know that they don't

We know that they don't handle their finances, when your that rich your account handles that. I'm sure it was a slip up that will be rectified ASAP!! Dont come for them. #positiveblackrolemodels LAUNCHING FEB 2012 CLICK THE LOGO 4 PREVIEW!!!

by TheWordTv
9:28 pm - Jan 4, '12

We know that they don't

by TheWordTv
9:25 pm - Jan 4, '12

they can both suck my pee-pee

they can both suck my pee-pee everyday for the next 3 years and i'll handle their debt Cassie is learning that it pays off

by Diddy
7:33 pm - Jan 4, '12

What are their professions???

by Anonymous Trini
7:22 pm - Jan 4, '12

They look more stupid for the

They look more stupid for the fact they have money and don't take care their bills! That's how the rich become broke!

by Plussizepinup
6:31 pm - Jan 4, '12

Not Surprised.

by Anonymous
6:26 pm - Jan 4, '12

Another reason why education

Another reason why education is more important than fame and money. What good is having wealth and fame when you cant count beyond your ten fingers and 10 toes or manage/oversee the work of the people you hire to handle your business? Instead of walking the streets dressed up or vacationing around the world, Angela needs to get back in school to earn a business degree. You never leave your business in anyone elses hands, especially when you dont understand what they are doing. SMDH! Black folks love to run out and show off the minute they get something but dont know how to manage or keep it. Sigh...

by Anonymous
5:38 pm - Jan 4, '12

MAYBE IF ANGELA STOP STAYING

MAYBE IF ANGELA STOP STAYING ON THE BEACH EVERYDAY NAKED SHE WILL BE SOMEONE WHERE TRYING TO FIND OUT HOW SHE WILL PAY HER TAXES.OK UNCLE ARE YOU GONE TO PAY IT FOR THEM,WHY IN THE WORLD THEY GET SO FAR BEHIND ON TAXES,DO NOT MAKE ANT SENSE WELL THEY BETTER PAY BECAUSE UNCLE SAM DOES NOT PLAY...

by Anonymous
5:36 pm - Jan 4, '12

I was thinking the same

I was thinking the same thing. Stay off the beach and go find a better accountant.

by Blov1
6:04 pm - Jan 4, '12

They should do like Mohammed

They should do like Mohammed Ali, he had two accountants...one to do the books, another to look over what the other did. He was a smart man.

by Marek's Wifey
5:14 pm - Jan 4, '12

Im sure this has to do with

Im sure this has to do with them starting to do business in California, I dont see this as a big issue, the IRS files the liens and then notifies you, once notified I'm sure it is taken care of immediately. Im sure by the time this was posted those taxes were handled, but of course black folks will take this and run with it and find negativity in it because they need to put their misery someowhere so why not rejoice in someone elses so called problems.

by Anonymous
5:09 pm - Jan 4, '12

If your taxes are handled

If your taxes are handled appropriately from the start then the IRS wouldn't need to file liens and then notify you later. Whomever is handling the filing for their business needs to get up to speed on taxes for every state in which they do business or be fired. I have an MBA and if this happened to my business heads would certainly roll.

by Anonymous
7:08 pm - Jan 4, '12

If your taxes are handled

by Anonymous
7:07 pm - Jan 4, '12

These celebs honestly need

These celebs honestly need better people assessing and budgeting their money, that's the reason their always behind. And why aren't any white celebs ever in the news for this????

by Me
4:37 pm - Jan 4, '12

Who is keeping the books

Who is keeping the books ladies? It okay to have fun but make you take responsibility for your business. Many celebs have suffered financial ruin because they failed to watch the watchers. This may be small beans for you but a lesson nonetheless. The IRS does not play.

by Anonymous
4:34 pm - Jan 4, '12

These comments just show

These comments just show again that we as blacks know nothing about finances. These are not SLIP UPS! A lien is when you are DELINQUENT (look up the definition). Stop making excuses for them. They need to grow the fk up and take care of business. Running a business is not just being in front of the camera and partying it up. So annoying!

by Anonymous
4:23 pm - Jan 4, '12

$450K owed is only news for

$450K owed is only news for people who don't have any money, Im sure they can take care of that bill with no problem

by Anonymous
4:17 pm - Jan 4, '12

Maybe if they stop paying the

Maybe if they stop paying the paps for photos on their minute vacay they can pay the IRS. Now this is news instead of polka dot bikini. Hehehe. Bawaaaaw

by Anonymous
4:03 pm - Jan 4, '12

Maybe if they stop paying the

Maybe if they stop paying the paps for photos on their minute vacay they can pay the IRS. Now this is news instead of polka dot bikini. Hehehe. Bawaaaaw

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3:55 pm - Jan 4, '12

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by Sara
3:51 pm - Jan 4, '12

All of that vacaying &

All of that vacaying & partying but NOT taking care of business??!!!!! Hmmmmmm......

by ShreveportShawty
3:37 pm - Jan 4, '12

What is the bizzness? Walking

What is the bizzness? Walking red carpets, n-tha club and hanging around other D-list celebrities is not a bizzness........allllll-right

by wak548
3:22 pm - Jan 4, '12

Most of these things are just

Most of these things are just slip ups on the business end, accountants overlook things and what not. Problem with the media is they like to sensationalize things. They did the same nonsense to Jay-z last week about a 18k workers compensation thing that was a clerical error.

by flawda
3:19 pm - Jan 4, '12

slip up you say....pure

slip up you say....pure garbage....they need to have their financial house in order...

by peeblebeach
3:46 pm - Jan 4, '12

Right. Whether you round up

Right. Whether you round up or down...half a million dollars is a BIG " slip up"'. I work for a multi- billion dollar company and a "slip up" like this would mean immediate termination.

by Anonymous
7:19 pm - Jan 4, '12

Right. Whether you round up

Right. Whether you round up or down...half a million dollars is a BIG " slip up"'. I work for a multi- billion dollar company and a "slip up" like this would mean immediate termination.

by Anonymous
7:18 pm - Jan 4, '12

Are these personal tax liens

Are these personal tax liens or tax liens relating to Pastries because sometimes companies neglect taking out money in advance for tax payments so that they can end the year with a profit (because it looks better on the books and looks better to potential shareholders) but I don't agree with it and no one really knows the details so its hard to truly comment on this story...