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Friday, March 29, 2013

CELEBRITY NEWS--Dionne Warwick: Soul Icon Files For Bankruptcy

The Walk On By and I Say A Little Prayer singer is left with just $10 a month after covering debts dating from the 1990s.

Soul singer Dionne Warwick owes nearly $10m (£6.6m) in back taxes and has filed for bankruptcy, it has emerged.
In a petition filed this month in New Jersey, Warwick lists liabilities that include nearly $7m (£4.6m) owed to the Internal Revenue Service (IRS) for the years 1991 to 1999 and more than $3m (£1.98m) in business taxes owed to the state of California.
The Walk On By and I Say A Little Prayer singer also lists around $21,000 (£13,800) in monthly income and about the same amount in monthly expenses.
Warwick's publicist Kevin Sasaki said the singer had been victimised by bad financial management and added she has paid back the actual amount of the taxes, but penalties and interest have accumulated over the years.
Dionne Warwick files for bankruptcy
According to court documents, the 72-year-old has an average monthly income of $20,950 but average outgoings of $20,940, leaving her with just $10 a month after covering her expenses.
Mr Sasaki said: "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."
A five-time Grammy award winner, Warwick won her first in 1968 with Do You Know The Way To San Jose? and her second two years later for the album I'll Never Fall In Love Again.
She is the cousin of Whitney Houston, who died at the age of 48 in February last year.
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