Sinbad Files For Bankruptcy
February 7th, 2010 - 8:50 pm ICT by GD ( 16 comments )By Ranjan Bhaduri
Feb 7, (THAINDIAN NEWS) The stand up comedian Sinbad, known for making people double up with laughter, is being reported to have lost everything and is under a lot of unpaid tax and debt troubles. Sources claim that the actor/comedian has been suffering financial losses for a long time now. It started several years ago when Sinbad started going downhill, but was unable to revive even after a smashing stint in Hollywood.
Sinbad has now been reportedly asked by the officers of the Attorney General to sell his house, to enable him to pay off the millions he owes to the IRS. It is said that the actor has to pay around eight million dollars as federal taxes. He is just another name in the long list of celebrities who have landed themselves in some very tight situations involving huge debts and impending taxes. The question that arises in the minds of the general public is ‘who was the accountant and tax lawyer, that provided services to these doomed celebrities’.
Sinbad is the stage names of David Atkins, who made it big in the 1980s and even had his own HBO series. He also starred in some movies like Houseguest, First Kid, Jingle All the way etc. There are some very other famous celebs who have filed for their bankruptcies last year. Similar was the case of Michael Vick, who was miles away from bankruptcy in 2004. He was even arrested and had to sell three of his houses to pay off debts. Last year also saw Bernie Kosar filing for bankruptcy, with around 10 millions difference in his assets and debts.
- Chris Tucker owes $11.5 mn in unpaid taxes - Jul 30, 2010
- Martin Scorsese hit with $2.8m tax bill - Mar 09, 2011
- Pamela Anderson owes $500,000 in unpaid taxes - Apr 14, 2010
- Brinkley pledges to settle tax debt - Dec 06, 2011
- Former baseball star Lenny Dykstra charged for bankruptcy fraud - Apr 16, 2011
- Martin doesn't owe $2.8mn in taxes - Mar 09, 2011
- Ja Rule admits to $3M tax evasion in New Jersey - Mar 23, 2011
- Al Pacino is involved in tax trouble - Mar 08, 2011
- Nicolas Cage faces yet another unpaid tax bill - May 27, 2010
- 'Mummy v/s Sinbad' - a failure in all areas (IANS Movie Review) - Dec 31, 2011
- Rush Hour star Chris Tucker has a pending tax bill of $11 million - Jul 29, 2010
- Former baseball star Lenny Dykstra indicted in bankruptcy fraud case - May 07, 2011
- Nicolas Cage Broke, Suing His Manager - Nov 04, 2009
- Sex.com auction postponed due to bankruptcy - Mar 21, 2010
- Harrisburg Pa. files for bankruptcy - Oct 12, 2011
Tags: bankruptcies, bernie kosar, david atkins, debts, famous celebs, federal taxes, filing for bankruptcy, financial losses, first kid, hbo, hbo series, irs, jingle all the way, michael vick, ranjan, stage names, stand up comedian, stint, tax lawyer, tight situations
February 7th, 2010 at 10:30 pm
This is too bad. I really like his humor. Bad management and worse accountants. I wish these folks could just do Turbo Tax and be done with it.
February 7th, 2010 at 10:43 pm
Celebrities should hire reputable tax professionals to handle instead of their friends. Maybe they should hire two firms to handle their money. One could check on the other. It would be better than going broke and/or to jail.
February 7th, 2010 at 11:36 pm
He is no different than many of these irresponcible people that makea ton of money & dont spend a second on taking care of it.
These people have a talent for something but money isnt it. They want to blow the dough & worry about what happens later.
Its later for Sinbad.
February 7th, 2010 at 11:36 pm
Sinbad is a great entertainer. His routines are something my grandkids can watch without my having to worry about language or content. People who take advantage of entertainers, posing as tax or financial professionals, should have their licenses revoked or be barred from working in the financial field again. They should have to pay the taxes, they are the ones who did not send it in! This would stop this type of thing from happening.
February 8th, 2010 at 12:36 am
Sinbad had to sign his tax documents every year just like every American. Its his responcibility to pay the taxes not some account.
Its true that the ” professionals” are less than that at times.
February 8th, 2010 at 1:12 am
If I were super rich, I would help you Sinbad. And I totally agree with Tee up there.
February 8th, 2010 at 1:49 am
dont blame the accountants or the lawyers. these guys don’t need fall guys. they live their own lives and make their own decisions. welcome to the real world. it’s about time
February 8th, 2010 at 3:38 am
Sinbad has a low financial I.Q.
February 8th, 2010 at 5:53 am
There is no doubt about it You have got to handle your business. the more money you have the more likely somebody is going to stick it to you.Moreoveryou still have to monitor your cash.
February 8th, 2010 at 6:14 am
The best accountant can’t make them pay their taxes. Don’t blame the accountatn, each person is responsible for paying his taxes
February 8th, 2010 at 6:57 am
How about a little compassion? The reason he hired a so-called expert, a tax accountant, is because he knew he didn’t know how to do it. That is what a responsible person would do, hire a professional. It is what thousands of other Americans do every tax season. He should sue his accountant for malpractice.
February 8th, 2010 at 7:13 am
Nowhere does it say he got bad advice. All the accountant can do is prepare the tax return. He can’t make him pay the tax. Why do people always want to sue someone instead of taking responsibility ?
February 8th, 2010 at 7:51 am
I am a CPA and have prepared tax returns for many wealthy people. We do NOT pay the tax for our clients. We do NOT have any control over our clients’ money. We provide written instructions on how to pay tax and how much to pay. We do NOT make financial decisions for our clients, we give advice. Clients can follow our advice or suffer the consequences.
February 8th, 2010 at 7:56 am
When I hit the lottery I’ll help them all but they will have to owe JESUS CHRIST OUR LORD their life.
February 8th, 2010 at 8:34 am
This isnt just about taxes. he made a ton blew it AND didnt bother with the taxes.
Sinbad was the one spending the money. We cant blame anyone other than him for what he did.
He was just having such a good time he forgot about his responcibility to himself.
Being funny doesnt make you good with money.
February 8th, 2010 at 10:45 pm
I cannot believe some peoples stupidity, including some of the people above. Be responsible for your own actions.