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Tori Spelling’s Bank Account Drained by the IRS $707K

Tori SpellingIt appears as if Tori Spelling may need to say goodbye to some of her favorite things or forever lose her 90210 lifestyle.  The former teen-soap star and daughter to the late TV mogul Aaron Spelling, had a whopping $707K drained from her bank account by the Internal Revenue Service.  That may not seem like a lot for a Spelling (basically television royalty) but shockingly enough, Tori Spelling’s net worth (2016) hovers at about a mere $1.5 million, as her late father left her with less than $1 million at the time of his passing (unhappy with her extramarital affair with now-husband Dean McDermott).

That may not be all she wrote on Spelling’s financial woes, either.  Just last month, Dean McDermott’s ex-wife, Mary Jo Eustace (whom Dean cheated on with Tori), threatened McDermott with jail time if he continued to neglect paying the child support he owes her (over $100K).  Furthermore, according to Entertainment Tonight, this past November the couple faced a lawsuit with American Express in which the company sued Spelling and McDermott for an unpaid credit card balance of over $87,000.  This was not the first time American Express has filed charges against them; just one year prior Spelling and McDermott were sued for an unpaid balance of just under $38,000.

In her 2013 book, “Spelling It Like It Is,” Spelling stated “I grew up rich beyond anyone’s dreams.  Even when I try to embrace a simpler lifestyle, I can’t seem to let go of my expensive tastes.”

I think it is safe to say that Tori won’t be headlining any big studio blockbuster films as that was never her forte.  The mother of five will have to settle with the meager salary that comes with any more Lifetime original movies she can score and the potential reality show she is hoping to launch based off her most recent pregnancy.  Spelling has stated that she hopes to brand herself as a domestic icon similar to Martha Stewart.  It is going to take a bit more than being followed around by cameras all day to achieve that, Tori.  Martha Stewart built an empire.  You were born into one.

If, like Spelling, you don’t act when you owe money to the IRS, you can easily find yourself in a similar situation.  The IRS doesn’t even need to get a court judgment to freeze your bank accounts, file tax liens against your property, garnish your wages, seize your tax refunds, or seize your assets.

Government tax collectors will not go away, and if you ignore them, you can find yourself losing everything you worked for – without much warning.  It may be possible to get these extreme actions reversed, or avoid them altogether, but you need to respond quickly to IRS notices and speak with a qualified, focused tax attorney who can help you with your options.

Venar Ayar, Esq.

Venar Ayar, Esq.

Attorney-at-Law, Master of Laws in Taxation
Principal and founder, Ayar Law

Venar is an award-winning tax attorney ranked as a Top Lawyer in the field of Tax Law. Mr. Ayar has a Master of Laws in Taxation – the highest degree available in tax, held by only a small number of the country’s attorneys.