Will Sharon and Ozzy Osbourne Lose Their Home to Debt?

Reports say the couple owes $1.8 million in taxes, and Sharon admits she took bad financial advice: "My fault, lesson learned"

Ozzy and Sharon Osbourne may have kept their English accents, but they've always seemed right at home in Los Angeles -- until now. According to the UK Daily Mail, the Osbournes are at risk of losing their U.S. home to a massive tax debt.

Proving that no one is exempt from the recession, the Osbournes (whose net worth is over $150 million) owe a cool $1.8 million in unpaid taxes from the past two years. Then again, most of us don't have six back-up properties if we lose a home! The Daily Mail's legal expert says that the I.R.S. is likely to seize one of the Osbourne's two American homes: their mansion in L.A. (valued at around $12 million) or their beach house in Malibu (valued at around $10 million). They'll also need to cut back on expenses, which may include Sharon's famous shopping and plastic surgery habits. (The pair is also known for generous contributions to charity, which they'll hopefully be able to keep up.)

According to friends, Sharon is "mortified" by the debt she's found herself in. On Friday night, the reality TV personality commented via Twitter that she was at fault for taking bad business advice.

"You can't rely on anyone but yourself," Sharon twittered. "You have to be on top of your own business affairs. My fault........lesson learned."

Sobering words, coming from a woman who's renowned for her business savvy! Sadly, it seems that the Osbournes' daughter Kelly Osbourne is also $34,000 in tax debt. Maybe she didn't inherit the business gene from her mum... or more likely, they just share the same accountant.

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