James F. McDonough
Of Counsel
732-568-8360 jmcdonough@sh-law.comFirm Insights
Mary J. Blige Faces Tax Lien on New Jersey Mansion
Author: James F. McDonough
Date: February 21, 2013
Key Contacts
Back
Grammy winner and R&B artist Mary J. Blige is facing a host of financial issues that recently culminated in a $900,000 tax lien being placed on her home.
The state of New Jersey imposed the lien on Blige’s 18,250-square-foot mansion in Saddle River after Blige violated tax law by failing to pay back taxes. She bought the home with her husband in 2008 for the price of $12.5 million, and quickly ran into financial issues trying to make the annual $100,000 property tax payments. The French country-style home features an indoor movie theater, fitness center, gourmet kitchen and eight bedrooms, according to AOL Real Estate. The lien is not the only issue the top-selling artist is facing.
She is currently facing a lawsuit from Bank of America, which sued the singer after defaulting on a $500,000 loan. The bank said she took out the loan in 2005 and stopped making payments in 2012. In addition, Blige’s former landscaper is also suing the singer for $4,000 in back tax payments. In May 2012, the New York Post reported that Blige’s charity, which is designed to empower women, failed to file tax returns for the last several years, and is missing hundreds of thousands of dollars in donations. Further, the organization defaulted on a $250,000 loan from TD Bank.
“The problem is that I didn’t have the right people in the right places doing the right things,” Blige said of the charities problems, according to the Post.
In all, the singer and her husband are on the hook for more than $3 million in defaulted mortgages. In an effort to overcome these financial woes, Blige dropped the original $14 million asking price of her New Jersey home – which has been on the market since 2011 – to its valued $12.5 million.
- Practices: Tax and Trusts & Estates, Corporate Tax Planning
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Dissolving Your Business: Essential Legal Steps to Protect Your Interests
If you’re considering closing your business, it’s crucial to understand that simply shutting your doors does not end your legal obligations. Unless you formally dissolve your business, it continues to exist in the eyes of the law—leaving you exposed to ongoing liabilities such as taxes, compliance violations, and potential lawsuits. Dissolving a business can seem […]
Author: Christopher D. Warren
The Role of Corporate Restructuring in Mergers & Acquisitions
Contrary to what many people think, corporate restructuring isn’t all doom and gloom. Revamping a company’s organizational structure, corporate hierarchy, or operations procedures can help keep your business competitive. This is particularly true during challenging times. Corporate restructuring plays a critical role in modern business strategy. It helps companies adapt quickly to market changes. Following […]
Author: Dan Brecher
Crypto Enforcement: A Former Prosecutor’s Warning to Criminals and the Public
Cryptocurrency intimidates most people. The reason is straightforward. People fear what they do not understand. When confusion sets in, the common reaction is either to ignore the subject entirely or to mistrust it. For years, that is exactly how most of the public and even many in law enforcement treated cryptocurrency. However, such apprehension changed […]
Author: Bryce S. Robins
Understanding Chattel Paper: A Key Component in Secured Transactions
Using chattel paper to obtain a security interest in personal property is a powerful tool. It can ensure lenders have a legal claim on collateral ranging from inventory to intellectual property. To reduce risk and protect your legal rights, businesses and lenders should understand the legal framework. This framework governs the creation, sale, and enforcement […]
Author: Dan Brecher
Crypto Compliance: A Comprehensive Guide
For years, digital assets operated in a legal gray area, a frontier where innovation outpaced the reach of regulators and law enforcement. In this early “Wild West” phase of finance, crypto startups thrived under minimal oversight. That era, however, is coming to an end. The importance of crypto compliance has become paramount as cryptocurrency has […]
Author: Bryce S. Robins
Supreme Court and Title VII: Implications for Reverse Discrimination
Earlier this month, the U.S. Supreme Court issued a decision in Ames v. Ohio Department of Youth Services vitiating the so-called “background circumstances” test required by half of federal circuit courts.1 The background circumstances test required majority group plaintiffs pleading discrimination under Title VII of the Civil Rights Act to meet a heightened pleading standard […]
Author: Matthew F. Mimnaugh
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.