The Osbournes $1.7 Million in Debt, Risk Losing Home

[Teh One Who Knocks]

Us Weekly




Even the Prince of Darkness has to pay up to Uncle Sam.

Ozzy and Sharon Osbourne owe more than $1.7 million in back taxes to the IRS, according to Financial-Planning.com. The rocker turned reality star, 62, and his wife and manager, 58, reportedly owe $718,948 from 2008 and $1.024 million from 2009.

The IRS has placed a lien on their Los Angeles house, meaning if the Osbournes don't pay up soon, they're in serious danger of losing their home. Their daughter Kelly, 26, also owes the government money; TMZ reported that the state of California filed a lien against the actress for $34,000 last month.

Sharon wrote on her Twitter page Friday: "You can't rely on anyone but yourself. You have to be on top of your own business affairs. My fault..... lesson learned."

[Godfather]

I still don't know how these people do it

How much has Ozzy made through the course of career!? I'm sure he met a few people along the way who could have invested his money brilliantly... and instead they're broke


Hard to feel sorry for that

[Muddy]

I don't really believe they are broke.. Theres no way.

[FBD]

how about them taxes


Looks like Sharon will be crackin the whip getting him back out on stage after all so they can keep their house

[Muddy]

Ozzys a vegetable...

[fricnjay]

Ozzy's net worth in 2010 was somewhere between 80 and 100 million. He got over 20 million as a signing bonus to the last season of The Osborne's alone.

[Noilly Pratt]

It must be gross mismanagement...check out http://www.allbookstores.com/Ozzy-Osbourne/author and see how many books he has out about "surviving". You'd think that at least one of them would be giving him a few 'bob.

Time to sell the mansion, Oz, and get the hell out of Hollywood.

[Teh One Who Knocks]

Ozzy Osbourne Pays Off $1.7 Million Tax Debts
Billboard Magazine


Heavy metal icon Ozzy Osbourne and his wife have quickly paid off their $1.7 million U.S. tax debts, a week after learning about their financial troubles from the news media.

Sharon Osbourne, a tough-talking reality TV personality who also manages her husband's career, said on Thursday the federal tax bill had been paid, and she was now on a mission to find out why the Internal Revenue Service filed a lien on one of the British couple's Los Angeles-area residences.

"At 4:00 p.m. on Friday afternoon I received a phone call from my publicist who had a reporter on the other line informing her that the IRS had just put a lien on one of our properties," Osbourne said in a statement released to gossip writer Perez Hilton. She linked to it from her Twitter feed.

"I then contacted my accountant who said they knew nothing about any lien. The lien has been paid. I do intend to find out how this lien happened without the knowledge of myself or my accountants. I hope none of this reflects negatively on mine and Ozzy's moral character."

In earlier Twitter messages, Osbourne, a judge on TV show "America's Got Talent", appeared to point the finger at the couple's financial advisers but also took personal responsibility for the mess.

"Just because you're paying someone doesn't mean they're doing the job correctly," she wrote on Friday. Three days later she added, "You can't rely on anyone but yourself. You have to be on top of your own business affairs. My fault ... lesson learned."

According to the lien, filed on April 4, the couple owed $718,948.25 for the 2008 tax year, and $1,024,175.03 for 2009. A lien attaches to all property, such as a house or car, and usually gives the IRS first call on the sale proceeds.

A British tabloid recently speculated that the Osbournes own at least seven properties worldwide, including at least two in the Los Angeles area.

Ozzy Osbourne, 62, helped popularize heavy metal in the 1970s as the lead singer for Black Sabbath, a band that reveled in satanic imagery. After he was thrown out for excessive drug use, he launched a successful solo career guided by his wife, now 58. They have three children, and won a new generation of mainstream fans earlier last decade with a hit MTV reality show that documented the clan's eccentric lifestyle, ear-splitting arguments and deep familial bonds.

[DemonGeminiX]

"I hope none of this reflects negatively on mine and Ozzy's moral character."

[Godfather]

So which one of their seven properties are they going to kiss goodbye to pay the back-tax

[Midnight_Beacon]

So which one of their seven properties are they going to kiss goodbye to pay the back-tax

None, they already paid them off. I'd like to know the same thing Sharon was asking... how is it that the press heard about them owning back taxes & there being a lien on their property before their accountants or they, themselves were informed?