December 21, 2009
Sinbad Needs More Than A Tax Attorney
It appears Sinbad is in so deep with the IRS, that even a tax attorney may not be able to save him.
According to the Detroit News, Sindab owes more than $8.15 million in delinquent federal taxes and the U.S. Attorney General’s office wants his house sold to help satisfy the debt, according to federal court records.
Earlier this month, an assistant U.S. attorney asked a federal judge to foreclose on several tax liens and determine whether the 53-year-old comedian is the true owner of a $1.5 million home in Hidden Hills, Calif.
Sinbad, whose real name is Sinbad Adkins, rose to fame on “Star Search” in the 1980s before starring in a string of movies like “Houseguest” and TV shows, really owns the property, the government claims.
On Dec. 11, the day after the government filed the case, Sinbad filed Chapter 7 bankruptcy in California, listing between $10 million and $50 million in liabilities and less than $50,000 in assets. That might cause a slight hiccup for the IRS in pursuit of a settlement.
The IRS claims Sinbad filed federal income tax returns for years 1998 through 2006 but failed to pay the reported taxes.
Here’s a breakdown of his IRS debt:
* 1998: $2,358,563
* 1999: $1,136,002
* 2000: $1,170,451
* 2001: $953,758
* 2002: $626,045
* 2003: $542,942
* 2004: $612,367
* 2005: $157,934
* 2006: $599,663
We can all learn a lesson from this unfortunate situation. Always play it straight with the IRS, and if you are having problems with paying your federal taxes, consult a tax attorney for the right tax advice.
source: eurweb.com
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