Many San Diego residents are fans of the Chargers, our city’s NFL team. These fans will remember the electric performances of Kordell Stewart in the mid-to-late 1990s, a quarterback for the Steelers who earned the nickname “Slash.” Stewart was called this because of his multi-purpose nature on the football field. He was designated as the team’s starting quarterback — but he could also play running back, wide receiver and punter, while also adding in duties as a kick returner.

However, it appears his “Slash” moniker doesn’t involve his skills in handling his taxes. According to a recent report, Stewart had a tax lien placed on him for owing more than $8,000 in back taxes. The state of Georgia is looking to reclaim the back taxes.

Those back taxes are from 2012, and over time the interest and penalties associated with the back taxes means that Stewart owes more than $13,000.

There are a couple of lessons to learn from this story, and the first is that procrastinating or dawdling on your tax debt is never a good strategy. Ignoring the problem will always cause you more problems down the road, and it is best to just address the issue — no matter how painful it may be or how much you may hate it — and resolve it without other tax penalties and fees making the matter more complicated.

The other lesson from this story is that tax liens are very serious. When a tax lien is under your name, it can be impossible to sell or acquire property, as well as obtaining new lines of credit. Dealing with a tax lien quickly and efficiently is crucial.

Source: The Urban Daily, “Former NFL Player Kordell Stewart Hit With Tax Lien,” Jonathan Hailey, July 18, 2014

 

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