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It looks like Uncle Sam is bullying The Broad Street Bully, as rapper Beanie Siegel's tax fraud might be landing him up to three years in prison. The former State Property rapper pled guilty to the charges in federal court, according to the Philadelphia Inquirer.
The government says that Siegel failed to pay his income taxes from the years 2003-2005, reports the Philadelphia Inquirer.
Despite having racked up 10 months in prison for charges of illegal gun possession in 2005 and six months in a halfway house for violating his probation on the gun charge, Siegel apparently earned $1 million of income that he did not pay taxes on.
Now, the government wants a slice of Siegel's earnings, totaling around $348,000, according to the Philadelphia Inquirer.
They say nothing is certain in life except for death and taxes.
And, it seems that when you don't pay taxes, the IRS may come knocking on your door - especially when you've made millions.
Crimes like Siegel's tax fraud is more severe than a case of negligence. When a defendant commits tax fraud, usually they are intentionally failing to report all of their income, or intentionally failing to file a tax return. Sometimes tax fraud charges will also arise if a taxpayer fraudulently makes a claim.
In Siegel's case, it seems that the rapper failed to file any tax returns at all. Prosecuting attorneys actually believe that Siegel may have failed to file more tax returns, except the statute of limitations on pursuing those charges may have expired, reports the Philadelphia Inquirer.
The next step for Beanie Siegel's tax fraud case is his sentencing, which will likely take place in November, according to the Philadelphia Inquirer. The State Property rapper's attorneys, however, say that they are sure that tax owed that was calculated by the government will be recalculated to a more accurate - and lesser - amount come sentencing time.
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