Taxable Talk

As I’ve said before, I’m not a fan of rap. My best friend considers my musical taste to be quite boring. That said, we both pay our taxes. It appears that rappers are having problems remembering to do this.

Beanie Sigel (aka Dwight Grant) is a Philadelphia hip hop artist who, according to Wikipedia, has sold more than 2 million albums. That equates to a good income. In Mr. Sigel’s case, his after-tax income equaled his pre-tax income from 2003 to 2005. That’s a difficult feat when your income is about $1 million.

Unfortunately for Mr. Sigel, someone at the IRS or the Department of Justice apparently enjoys hip hop enough to realize that there should be a tax return filed for Mr. Sigel for each of those years. There weren’t, and that led to him pleading guilty today to three counts of not filing a tax return. Mr. Sigel is likely looking at a trip to ClubFed since the tax loss is estimated at over $340,000; he has served time before on a weapons charge and for a probation violation.

If you’re wondering why I used this title for the post: Mr. Sigel’s most recent album was The Broad Street Bully.

This entry was posted on Wednesday, August 10th, 2011 at 2:45 am and is filed under Tax Evasion. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.