Dionne Warwick Files for Bankruptcy, Owes $10 Million in Taxes >>Hollywood

The Hollywood Gossip

Dionne Warwick Files for Bankruptcy, Owes $10 Million in Taxes Mar 26th 2013, 18:36 Forget asking about the way to San Jose. Dionne Warwick is asking a court to help her with some major financial problems. The veteran singer makes Nicolas Cage look rich in a New Jersey bankruptcy filing, stating for the legal record that she has a mere $25,000 in assets… yet owes over $10.2 million in taxes to the IRS and the state of California. According to documents, Warwick has only $10 per month to her name because she earns $20,950 and spends $20,940. Yes, per month. Dionne Warwick is on record as saying she spends $20,940 PER MONTH. A rep for the artist says Warwick's fiscal disaster was caused by "negligent and gross financial mismanagement" in the late 1980s through mid-1990s. But, once again, we may need to point to her spending habits as at least contributing to the problems. Warwick admits she spends $5,000 per month on housekeeping and $4,000 per month on a personal assistant. "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," her rep added. "These plans were not accepted, resulting in escalating interest and penalties."

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