Fat Joe didn't pay his taxes in full several years back, and now he's paying the price. The rapper just plead guilty to tax evasion this morning, reports TMZ.

Apparently Joe stiffed the government of approximately $700k from income taxes during the years 2007 and 2008. Joe appeared in federal court this morning in New Jersey, where he plead guilty, but was freed on a $250k bond.

He's scheduled for sentencing in April, and he could face up to two years in prison.