Cincinnati Tax Resolution Powered by Toph Sheldon 9200 Montgomery Rd., Ste. 7B Cincinnati, OH 45242
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National Coaches Day Highlights the Goals of Sports The Legal Drama Behind Larry King’s Handwritten Will IRS Success: Toph Wins 97% Cut in Client’s Tax Debt
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For Ashley, Turning 40 Is a Fresh Start Pumpkin Pie French Toast
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How Addiction and Overspending Took Down Courtney Love
A DIFFERENT KIND OF TAX DILEMMA TOPH’S TAX NIGHTMARES
Many tax cheats deliberately shirk their obligations because they intend to keep all their riches for themselves. Not so with Courtney Love. In a revealing tale about the toll taken by addiction, the singer, poet, actress, and widow of the late grunge star Kurt Cobain was hit with $1.9 million in IRS tax liens and an additional $500,000 lien by the state of California. Love has written about how her battles with addiction and overspending and her lack of financial literacy fueled serious financial problems, leaving her nearly penniless for a time. Love had previously faced unpaid tax bills and paid them off. In a statement, a spokesperson for Love suggested to the U.S. Sun, which broke the story in 2021, that she had paid off the latest tax debts as well. “Through
no deliberate fault of her own, Ms. Love had a tax issue that has since been resolved,” the statement said. Love, lead vocalist in the band she formed, Hole, married Cobain in 1992. She has been nominated four times for Grammy awards and earned recognition as an actress, securing one Golden Globe nomination. In a poignant act of transparency, Love wrote about her money woes in a 2021 article supporting a Financial Times campaign to improve financial literacy. “It isn’t a big secret that I suffer from the disease of addiction,” she wrote.“In particular, financial stress tends to make me go cuckoo-bananas.” Love described having been a victim for years of financial crimes that grew worse after Cobain’s death in 1994. Perpetrators, including former employees, stole bank information and
PHOTO CREDIT: ANDREA FLEMING
opened credit cards in their names. “Basically, they stole every single cent,” Love wrote. The FBI investigated the crimes and creditors froze her assets, leaving her nearly penniless in 2011. Love blamed herself for failing to track her spending or do basic math, such as calculating a percentage. “Financial literacy is one of the most critical things an artist can have. But it seems scary. It’s scary understanding my fault in all this — in acknowledging my overspending.”
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