Dionne Warwick Declares Bankruptcy With a $10 Million Tax Debt
Looks like crooner Dionne Warwick won't be able to 'Walk on By' the IRS. The songstress has filed for bankruptcy, claiming she has $25,000 in assets but owes $10.2 million to Uncle Sam.
You'd think Miss Cleo would've warned her about this.
TMZ reports that Warwick's rep Kevin Sasaki chalked up the mess to "negligent and gross financial mishandling" during the '80s and '90s. Or, in layman's terms, Warwick blew money like a drunken sailor during Fleet Week. One who hasn't been on the charts in nearly 30 years.
Sasaki added that Warwick has made repeated attempts to work out a repayment plan with the IRS, but all her efforts have been rebuffed.
Court documents show the 72-year-old singer earns $20,950 monthly but spends $20,940, giving her a whopping $10 to pocket. She also says she makes a lowly $1,000 in music royalties every month.
On top of that, she pays $5,000 a month for housekeepers and another $4,000 for an assistant, who should probably be fired if they had anything to do with her bookkeeping. Among her assets today are two fur coats, decade-old furniture, $5K in gowns and two pairs of diamond earrings.
Kinda sad stuff for a woman who's won five Grammys and charted dozens of singles including 'I'll Never Fall in Love Again,' 'Do You Know the Way to San Jose,' 'Walk on By,' 'I Say a Little Prayer,' 'Anyone Who Had a Heart,' and the (arguably annoying) '80s-era singalong 'That's What Friends Are For.'