The producer of a long-lasting Missouri acrobatics show had accumulated more than $270,000 in Internal Revenue Service (IRS) debts, according to a Missouri Department of Revenue tax lien filed recently filed with Taney County Circuit Court.
“According to the lien, Ying Xu, of the Amazing Acrobats of Shanghai Show at the New Shanghai Theatre, owes $271,340.08 in taxes and interest. According to the document, the certificate of lien was filed with the Taney County Recorder of Deeds office and is a lien against all real and personal property of Ying Xu. Whether that includes the New Shanghai Theatre on Missouri 165 is not clear. According to Cathay Tan Gao, the theater’s general manager, they are ‘investigating the situation.’ A request for comment from the Missouri Department of Revenue also was not returned by press time,” writes Cliff Sain of the Branson Tri-Lakes news.
A tax lien is the last move the IRS takes to get someone to pay off their IRS debt before taking legal action, and selling your property.
“According to the lien, Ying Xu owes taxes for 31 months: April 2007, November 2007 through February 2008, and April 2008 through May 2010. The months range in amounts from $79.72 in April 2007 to $18,499.01 in July 2008. In all, the amount of taxes owed comes to $231,534.13, with interest at $39,805.95,” writes Sain.
IRS debt is a common phenomenon in the U.S., and no one is immune to IRS penalties. In recent news, a restaurant chain owned by Toby Keith was the subject of an IRS investigation.
Many Americans owe the IRS back taxes and do not know where to turn for help. If this situation describes you or someone you know, it is important to get professional help from a tax resolution attorney.
The tax resolution lawyers at U.S. Tax Shield can help you get your finances in order once again. Our A+ Better Business Bureau (BBB) rating is testimony to our expert tax knowledge and superior customer service skills.