Fat Joe’s Tax Problems
You can now add Fat Joe to the list of artists who have fell victim to Uncle Sam's wrath for not paying taxes on time. The Bronx rapper was candid about his financial problems on Wednesday's episode of 'RapFix Live.'
In Fat Joe's case, he plead guilty to tax evasion charges back in December. He failed to pay taxes on income of $3 million he earned in two years.
On 'RapFix Live,' the Terror Squad leader made no excuses for owing Uncle Sam.
"I can't really explain that 'cause I got a real court case going on, like facing jail time. But I guess after June 24. Hopefully, it goes well," Joe explains. "At the end of the day, I'm paying all the money back that's owed -- actually I have and I'ma just go like a man [and] stand up."
Fat Joe also put some of the blame on inept accountants.
"You gotta understand we hire guys who are supposed to have Harvard degrees to take care of us," he said. "All the time you see artists, the first thing they did to you when you get money was introduce you to a bunch of fancy guys with bow ties who are gonna take care of your money and all that."
"Then you always see an artist or a celebrity or somebody like that goin' down for it [tax evasion] and these guys never go down for it," he added.
In the end, Fat Joe says his situation is complicated and he didn't want to say anything to hurt his impending court case. "I'll explain the story after that so you'll get a real understanding of what happened to me," he said. "It's no excuses."
We hope that a judge will give Fat Joe leniency in his tax evasion case. The last thing we need to see is a hip-hop legend in wearing an orange suit.
And let this be a wake-up call for up-and-coming rappers out there -- handle your business properly or Uncle Sam is going to be knocking on your door.