Former Real Housewives of Atlanta star Kim Zolciak-Biermann has been denying rumors of financial difficulties for some time now. However, recent reports indicate that the bills are finally catching up to her. The IRS has filed federal liens against Zolciak-Biermann and her husband, former NFL outside linebacker Kroy Biermann, amounting to over $1.1 million.
Last fall, the couple reportedly defaulted on a $1.65 million loan on their Fulton County, Georgia home, and it was reported that Truist Bank would auction off the property in March of 2023. However, Zolciak-Biermann remained defiant, stating on an Instagram post that she would not let her home, which they’ve put millions and millions of dollars into, go for $257,000.
Zolciak-Biermann and Biermann have reportedly remained in the house despite the financial issues. However, it was recently reported that the couple has filed for divorce after being married for 11 years and sharing four children. Zolciak-Biermann is seeking primary physical custody of their children, joint legal custody, spousal support, and plans to retake her maiden name, Zolciak.
Federal tax liens were filed against the couple for the tax years 2013, 2017, and 2018, totaling over $1.1 million as of March 30, 2023. A state tax lien for 2018 worth over $15,000 was also filed by the state of Georgia. The purpose of a tax lien is to protect the government’s interest in your property, including real estate and personal property.
Zolciak-Biermann is not the first Real Housewives star to make news for taxes. Others, including NeNe Leakes, Kim Fields, Sheree Whitfield, and Teresa Giudice, have also faced tax-related issues.
It remains to be seen what the next steps are for Zolciak-Biermann. However, it is clear that the financial issues are catching up to her, and she may need to take action to resolve the situation.
Certainly! Reality stars have faced financial troubles over the years, with Kim Zolciak-Biermann being the latest to make headlines for unpaid taxes and potential foreclosure. While it is not unusual for high-profile individuals to experience financial difficulties, it is essential to recognize that everyone, regardless of their income or fame, should manage their finances responsibly.
One crucial lesson we can learn from Zolciak-Biermann’s situation is the significance of paying taxes promptly and completely. Failure to pay taxes can result in the government filing a lien on your property, making it challenging to sell or refinance your home. It can also harm your credit score and lead to other financial issues in the future.
In addition to paying taxes, living within your means and avoiding excessive debt is critical. This can be difficult for anyone, particularly those who rely on uncertain sources of income such as reality television appearances. By establishing a budget, saving money, and avoiding unnecessary expenses, you can ensure financial security even during lean times.
Of course, even the most responsible financial planning cannot always prevent unexpected challenges or setbacks. However, by proactively managing your finances and keeping up with your obligations, you can reduce the impact of those challenges and set yourself up for long-term success.