Beanie Siegel’s Taxes Owed May Land Him In Jail

It’s no secret that Beanie Siegel has been planning a comeback for some time now however, that said comeback could be derailed by a prison sentence later this week.

The Philadelphia native is scheduled to be sentenced to prison on Thursday (April 12), for failing to report income to the federal government.

Back in August, Beanie Sigel had plead guilty to failing to file federal tax returns from 2003-2005, on more than $1 million worth of income.

According to the Philadelphia Daily News, Beanie Sigel’s lawyers will contest the amount the government says Beanie owes during the sentencing on Thursday.

According to the government, Beanie Sigel owed a total of $348,000.

Not to mention that  Beanie Sigel announced a new record deal through EMI with veteran music executive Chris Schwartz this past week.

This seems very interesting in my opinion as it leads me to believe that they are going to try and settle on a lower amount that very day in court and perhaps pay the bill so that Beanie can go on with his new record deal and the IRS can have their money. Let’s say it may be something of a bailout for the Philadelphia rapper during this economic crisis.

Beanie is facing up to three years in prison for the tax violations.

Photo credit:hiphop.popcrunch.com