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Swizz Beatz: The Latest Black Celebrity in Financial Trouble

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It's been a great year for producer/sometimes rapper Swizz Beatz. He (somehow) managed to bag Alicia Keys. He keeps on makin' hits. He just welcomed a healthy new child into the world. If you didn't know any better, you'd swear everything was peachy keen.

Of course, as with everything in the world of entertainment, there's more than meets the eye. Turns on Swizzy's got some serious IRS problems:

A giant tax bill makes a pretty poor baby shower gift, but that's what the IRS and New York gave singer Alicia Keys' husband, record-producer Swizz Beatz, who owes more than $2.6 million in delinquent taxes, records show.

Beatz, 32, and Keys welcomed a baby son in mid-October. Days later, the state of New York slapped yet another tax lien on Beatz, real name Kasseem Dean. Not to be outdone, the IRS sent its regards this week.

The IRS filed a $283,562 lien against Swizz Beatz on Monday with the New York City Register.

The state of New York filed a $134,738 tax warrant against him and his ex-wife, R&B singer Mashonda on Oct. 23. The warrant is filed with the New York County Clerk.

The IRS filed a $652,727 lien against Swizz Beatz, real name Kasseem Dean, on June 3 with the Rockland County (N.Y.) Clerk. According to the lien, which you can
see here, he owes income taxes from 2008.

The state of New York filed a $162,300 tax warrant against Dean and his ex-wife Feb. 4, 2009, with the New York County Clerk.

The IRS filed a $556,986 lien against Dean and his ex-wife on Aug. 18, 2008, in Rockland County. They owe 2007 income taxes, according to
this public record.

The IRS filed an $842,645 lien against Dean and his ex-wife March 4, 2008, with the Somerset County (N.J.) Clerk. According to
this lien, they owe income taxes from 2006.


A poor working stiff like me can't even fathom how to make $2.6 million during the course of my lifetime, let alone getting $2.6 million behind on my taxes. And at the core of every lien seems to be an unwillingness or inability to correctly assess income taxes. Of course, Swizz Beats isn't the only entertainer to find himself in trouble with the IRS. That list is lengthy.

Still, just how difficult is it to just hire a good accountant to manage your earnings and file on your behalf each year? For most entertainers, it's a bit more complicated than for those of us get an W-2 in the mail each January. Many entertainers are self-employed, which means keeping an accurate accounting of all variations of income, whether in the form of cash, check, goods or services rendered. For someone like Swizz Beats, this would mean keeping up with mechanical royalties, concert and personal appearance fees, promotional expenses, free travel receipts and a million other things most of us never have to consider. And of course he's still got to find time in the midst of all this to make hits (and paintings?), which are ultimately his livelihood. I'm obviously not making an excuse for him, but perhaps we should all cut this guy a break, all things considered.

Too bad the IRS is not so forgiving.

Question:
-Tax season is just around the corner. Are you ready?

 

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