Fat Joe explains in-depth why he didn't pay his taxes, which has landed him four months of jail time.
Fat Joe was recently sentenced to four months in prison for tax evasion. Joe had plead guilty to the charge, after failing to pay his taxes from the years 2007-2008 on an estimated near three million. The New York native who now resides in Miami visited his hometown and hit up The Breakfast Club on Power 105 for an hour-long interview, where he explained in detail how exactly he ended up being charged with tax evasion.
Joey Crack explained the story in full, from the beginning. Read it below.
"What happened was, I always had the same accountant for years. His son was in a car accident, like he became a quadriplegic so he retired. So they introduced me to a new accountant, so he took over my stuff. So I got on my rapper to where I had the guy just paying all my bills, so I'm wiring him money every month to pay all my bills, my taxes. I'm asking him if everything's all right, he says it's cool, this and that, he's doing everything. So one day I go to get a car, and when to go get my credit report, my credit is like I could get a building walking in.
"So the guy was like, 'you sitting down?' I thought he was joking, he's like, 'none of your mortgages is paid, none of your cars is paid.' So this is how we found out. So I called the dude up, I was like, 'yo my man, wassup? I send you money every month.' He was like, 'no buddy don't kill my family.' He try to get me on the phone talking about how I'm gunna kill you and all that, I'm like 'no my man, wassup?!' The next day, he paid everything off, like month and months of not paying it off, he paid it all off, so I already knew, this is like some ponzi scheme. So boom, next day I went and got an accountant, so we tried and fixed what was going on. So we actually approached the IRS, like yo, and they're like, 'alright, so the year your accountant's son got crashed you still owed 60,' so I wrote a check right quite for the 60,000.
"When you do your taxes you gotta get all the old statements, old cheques, 'cause you tryna write off as much as possible. So after we in that process, the IRS come and knock on the door, they like, 'oh is this is aproblem,' I was like, 'how is it a problem, we contacted you?' and they was like, 'nah, nah nah..'
"They admitted it in court, he got effed by his accountant. But they feel like you, as the leader of your household, you supposed to be over all everything that's going on, so you still get the blame, you can't say it's the accountant's fault," Joey capped it off, taking full responsibility.
He added, "I paid 'em all they money back, I wound up spending like a million and 200,000."
Watch the full interview with Power 105 in two parts below.