Dionne Warwick has reportedly filed for bankruptcy in New Jersey.
The 72-year-old singer said she owes nearly $10 million in back taxes. Reports indicate that Warwick has only only $1,000 in cash to her name.
Dionne Warwick’s assets total around $25,000. Court documents revealed the singer owns earrings and two fur coats worth around $13,000. Warwick also stated that she has $5,000 worth of clothing, $5,000 in artwork, and around $15,500 in furniture.
The “Walk On By” singer filed the Chapter 7 petition in New Jersey earlier this month. Warwick reportedly owes around $7 million to the IRS for unpaid taxes from 1991 to 1999. She owes another $3 million to the state of California for unpaid businesses taxes.
The singer’s business manager and lawyer are looking to collect around $500,000 in unpaid bills.
Dionne Warwick listed her employer as Star Girl Productions in court documents. She reportedly makes around $20,950 per month. However, the filing revealed that the singer is eligible for a pension through SAG/AFTRA. The award-winning musician only makes $1,000 in royalties.
Although she makes just under $21,000, Warwick’s monthly expenses total around $20,940. Documents show that Warwick pays a personal assistant $4,000 per month and shells out $5,000 for housekeeping.
A representative for the singer told TMZ :
“In light of the magnitude of her tax liabilities, Warwick has repeatedly attempted to offer re-payment plans and proposals to the IRS and the California Franchise Tax Board for taxes owed. These plans were not accepted, resulting in escalating interest and penalties.”
Dionne Warwick is known around the world for her hit songs. Included in her catalog are the tunes “Raindrops Keep Falling on My Head,” “This Guy’s In Love with You,” “I’ll Never Fall in Love Again,” “Do You Know the Way to San Jose,” “Don’t Make Me Over,” “Walk on By,” “I Say a Little Prayer,” among many others.
According to her official website, the singer has been touring Europe and South America in recent months.
Are you surprised that Dionne Warwick has filed for bankruptcy ?
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