Warren Sapp and the Large Nude Women Painting - More Celebrity Tax Woes

Former NFL great, Warren Sapp, is the newest IRS tax target celeb.  Sapp recently filed for Chapter 7 bankruptcy in Florida for about $7 million in debt.  Among his creditors are medical providers for speech therapy, 4 baby mamas (for child support) and Uncle Sugar (to the tune of over $900,000).  His IRS debt for 2006 was about $850,000 and 2010 taxes totalled $85,000.  Note, Florida doesn't have state income tax, so no state tax problem, I presume.

Interestingly, Sapp still lists his net worth at over $6 million.  His assets include over 240 pairs of Air Jordans sneaks and sandals, "large nude women (sic) painting" (the women or the painting?), a lion skin rug "(female-lioness)" and Nike Golf clubs.  You can't make this stuff up!  Sapp continues to rake in $45,000 per month as a football commentator.

Sappy

My guess is that this bankruptcy will be converted from total liquidation to reorganization.  Baby mamas and the IRS will likely get superpriority status.  Large nude women painting will go in Trustee's office. Call Oklahoma's tax attorney Travis Watkins at 405-607-1192 to find out what tax problems are dischargeable in bankruptcy.         

 
Travis Watkins
Senior Tax Attorney
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