Monday, August 22, 2011

CELEBRITY TAX PROBLEM OF THE WEEK

RAP SINGER BEANIE SIGEL ENTERS GUILTY PLEA IN TAX CASE


Rap singer, Beanie Sigel has pleaded guilty in a Philadelphia federal court to charges of failing to file tax returns for three years in a row.
The 37-year-old performer admitted Tuesday to the government’s claim that he did not pay at least $348,000 that he owed in taxes on $1 million in income earned between 2003 and 2005, according to the Philadelphia Inquirer.

Prosecutors believe Sigel, whose real name is Dwight Grant, did not pay taxes in years prior to 2003, but the statute of limitations has run out. They contend that he owes up to $700,000 in unpaid taxes going back to the 1990s. He has previously been in prison on weapons possession charges, but was acquitted of an attempted murder charge. Sentencing in the tax case is scheduled for November. He faces up to three years in jail.