Monday, March 25, 2013

Dionne Warwick Going Bankrupt Over $1 Million Debt

Classic singer Dionne Warwick has been forced to file for bankruptcy over $1 million in taxes the IRS says that she owed the government.

The debt goes back to the 90's and was originally valued by the government at $2.2 million. Her attorney, Daniel Stolz, told Rolling Stone "Ms. Warwick had a business manager who mismanaged her affairs. ... She's actually paid more than the face amount of the taxes, but with all of the crazy interest and penalties that they add, the number kept mushrooming – even though she paid off the amount that she owed in terms of the actual taxes."

The attorney added that the taxes are so old now that the law allows them to be discharged through bankruptcy. She filed in New Jersey where most of her assets will be protected including her S.A.G. pension.

Update (3/26): Dionne has posted a personal message on the situation to her webpage.

all
i'm sure you have been made aware via the enternet that i have filed bankruptcy...........i am okay and don't want any of you to worry about this............as with so many things in our lifetime objects that are sometimes unavoidable will crop up..........just keep a positive thought going around me and as i have been told on many occasions "THIS TOO SHALL PASS"
sending love to you all
dionne

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