Wu-Tang Clan veteran Method Man has been arrested for failing to pay over $30,000 in taxes. Method Man, whose real name is Clifford Smith, faces four years in prison if convicted.

Swiss banking giant UBS has agreed to give up the account information of 4,450 American customers who are suspected of having hid billions of dollars from the U.S. government.

President-elect Barack Obama is discussing $300 billion in tax cuts as a part of a $675 to $775 billion economic relief package. Some analysts view the move as an effort to preempt Republican opposition.

There are 7.2 million convicted criminals in the U.S., the highest figure in history. An estimated two million are in prison, with four million on probation and 800,000 on parole. The cost to taxpayers is estimated at $45 billion.

Producer Scott Storch (Fat Joe, 50 Cent) is wanted by Miami police for failing to pay approximately $511,839.16 in back property taxes.