Sinbad Claims He’s Bankrupt, Owes Millions To IRS

Sinbad is bankrupt yet again.

The comedian and actor claims that he owes upwards of $10 million dollars to a handful of creditors. Included among the people looking for a payout are the folks at the Internal Revenue Service. Sinbad apparently owes around $8.3 million to the United States government.

Sinbad, who was born David Adkins, reportedly filed for Chapter 13 bankruptcy last month. The documents explain that the comedian owes $32,199 to the Bank of America, $374,979 to American Express, and $2.3 million to the California Franchise Tax Board.

Although he owes quite a bit of money to several organizations and institutions, the comedian still has a few items in his possession. His $131,000 in assets reportedly include home office equipment and a small fleet of cars. Sinbad owns a 2007 BMW 750i, a 2006 VW Beetle, a 2010 Ford F150, and a 2010 Lincoln Navigator.

The Jingle all the Way star said he only makes around $16,000 per month at moment. Since what’s coming in doesn’t come close to what’s going out, Sinbad stated that he currently cannot afford to pay his bills. As such, his debt only continues to grow.

The $8.3 million IRS tax bill he is currently staring down stems from unpaid monies between the years of 1998 and 2006. Sinbad also admitted that he owes both federal and state taxes from 2009 until 2012.

Unfortunately for the comedian, this isn’t the first time he has filed for bankruptcy. The actor attempted to file court documents in 2009 to debt he owed at the time. However, his request was later denied after he failed to fill out the proper paperwork.

In addition to his stand-up career, Sinbad has appeared in a number of movies and television programs over the years. The comedian is probably best known for his roles in A Different World, First Kid, and Good Burger. He recently voiced Roper in the upcoming Disney flick Planes.

Are you a fan of Sinbad? What do you think about the talented comedian’s claim that he’s currently bankrupt?

[Image via Randy Miramontez / Shutterstock.com]