Don't Mess With Taxes

Marc Anthony, singer, actor and husband of Jennifer Lopez, has agreed to pay $2.5 million in back taxes and fines owed by himself and three of his companies.

The Manhattan District Attorney's office said that between 2001 and 2004, Anthony failed  to file New York state and city corporate tax returns on $15.5 million in income. According to New York Department of Taxation officials, the deaprtment's computer kicked out Anthony's return because of discrepancies.

Anthony was not charged with any criminal tax acts, according to prosecutors, because the salsa singer's taxes for the years in queston were prepared by a professional accountant and Anthony thought his tax obligations were taken care of.

Two associates, however, are in a bit more tax trouble. Anthony's manager, who also happens to be his brother, and Anthony's business manager/accountant for the salsa star's three companies have pleaded guilty to tax felonies. They will be sentenced in June.

And don't worry, J. Lo fans. She's not in any tax trouble since she and Marc file separate returns.

Today's celebrity tax lessons: The Anthony incident highlights some important tax lessons that apply to megastars and regular folk alike.

One, your taxes are ultimately your responsibility, regardless of who fills them out and files them.

Two, when you file a joint return, you and your spouse are both liable for any taxes.

Three, state tax collectors are just as determined to get their money as are the feds.