Fat Joe was the recipient of a large IRS tax bill.
Rapper Fat Joe, whose real name is Joseph Cartegena, found himself in a federal court in Newark, New Jersey. The Miami-based rapper entered a guilty plea for failing to pay taxes on what the IRS calculates to be more than $3 million dollars in income. They estimate that the tax bill will be over $718,000.
His tax attorney, Jeffrey Lichtman, appeared in court with Fat Joe told the press that the rapper would attempt to pay back the tax bill before he is sentenced. This only leaves a few months for the rapper to pay his tax bill, as the rapper is set to be sentenced on April 3. According the reports, Fat Joe was released on $250,000 in bail. The rapper faces a maximum of two years in jail, and a maximum fine up to $200,000. The rapper will also find the tax penalties on his IRS bill.
According to news regarding the rapper’s business activities, Fat Joe has been hard at work. He has spent recent months in the studio, recording his eleventh album. Chris Brown and Kanye West are on the list of album collaborations. Perhaps Fat Joe will be able to use the money to help pay off the looming tax bill, as long as he remembers to pay his taxes this time around!Segal, Cohen & Landis 9100 Wilshire Blvd. Ste. 601E Beverly Hills, CA 90212 (310) 285-3999