These days, Fat Joe ain't so fat. But he owes an obese (or is that obscene?) amount of back taxes to the IRS.
According to a press release from the Department of Justice: "Joseph Cartagena, the rapper popularly known as 'Fat Joe,' pleaded guilty [in New Jersey] today to two counts of failing to file tax returns with the IRS."
Mr. Cartagena's unreported gross income was "in excess of $1.3 million in 2007, in excess
of $1.4 million in 2008, in excess of $320,000 in 2009, and in excess of $680,000 in 2010."
And the tab from Uncle Sam: "$718,038."
After admitting to being shitty and shady on his tax filings, "Cartagena, 42, of Miami Beach, Fla." was released on $250,000 bail "pending sentencing," which is "scheduled for April 3, 2013."
"Cartagena faces a maximum potential sentence of two years in prison," the DOJ press release states, "and a fine of $200,000, in addition to the costs of prosecution."
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"Cartagena has further agreed to file true and accurate tax returns and to pay to the IRS all taxes and penalties owed."
Looks like it's time to get a phat accountant, Fat Joe.