Free Site Registration


The Artist Known as Prince Will Respond to IRS’s Tax Information Request

Minneapolis (September 21, 2012)

By Joel Rosenblatt

Bloomberg

(Bloomberg) The business manager for Prince Rogers Nelson, the recording artist known as Prince, said her client will respond to a request from the U.S. Internal Revenue Service for tax information.

Prince
(photo by Micahmedia)

The manager, Debra Whelan, said in an emailed statement Wednesday that until the inquiry was disclosed in the press, she was unaware of a “routine request” from the IRS claiming Prince failed to comply with a summons issued on behalf of French tax authorities.

“The IRS had incorrect information for service and left the notice at an address of record,” Whelan said in the statement. “Now that the matter has been brought to our attention, we will promptly respond and provide the requested information.”

The IRS asked the musician to appear in response to a inquiry from its French counterpart “to examine the French income tax liability of Mr. Prince Rogers Nelson for tax years 2009 and 2010,” according to the documents filed this week in federal court in Minneapolis.

Prince hasn’t responded, the IRS said. The petition asks the court to enforce the summons. A hearing on the matter is scheduled for Oct. 18 before U.S. District Judge David S. Doty.

The French government lodged its request in July 2011 in a letter listing several concerts it believed Prince had played in France during the two years at question and asking for additional documentation about the relationship between the artist and the production and recording company Paisley Park Enterprises Inc.

The case is U.S. v. Nelson, 12-mc-00071, U.S. District Court, District of Minnesota (Minneapolis).

0 Comments

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Accounting Today, please use the form below to login. When completed you will immeditely be directed to post a comment.

 

Follow Accounting Today
Advertisement
Advertisement

Jason Marx on the Challenges and Opportunities Facing Accountants

June 17, 2013

CCH Small Firm Services president Jason Marx talks about the challenges confronting small accounting firms, including regulatory and tax compliance, technology adoption, and do-it-yourself software.

Jennifer Warawa on the 'On-Demand' Accountant

June 14, 2013

Jennifer Warawa, VP of partner programs and channel sales at Sage, discusses how accountants need to communicate more frequently with clients so they become more of an "on-demand" resource.

George Farrah on the Challenges and Opportunities Facing Accountants

June 14, 2013

Bloomberg BNA executive editor of tax and accounting George Farrah discusses how accountants today are dealing with the economy, technology, globalization and practice management.

Amit Jain on Three Key Trends in Accounting

June 13, 2013

Amit Jain of ADP Small Business Services discusses how the accounting firm of tomorrow will be different from accounting firms today.

Advertisement

SLIDE SHOW

What’s in the Lease Accounting Exposure Draft?

June 18, 2013

A quick guide to FASB’s proposed standards from Bloomberg BNA.

20 Trends to Watch

June 16, 2013

New areas of change that accountants should be on the lookout for.

Protecting Clients from Tax-Related Identity Theft

May 31, 2013

Tax-related identity theft is a continuing problem, and a trustworthy tax preparer is an important part of the solution.

10 Simple Revenue Boosters to Start Now

May 28, 2013

Are your prospects choosing another accounting firm just because of price? There are ways to boost your image to earn a premium fee and leave low-price competitors behind.

Tax Season by the Numbers

May 22, 2013

The IRS recently released statistics covering the year to May 10, 2013.

Advertisement
Advertisement
Advertisement