Philly rapper and ex Rocafella Records signee Beanie Siegel faces jail time. This time the rapper faces two years behind bars for failing to pay his taxes 2003 through 2005 and now faces 2-years serious jail time. U.S. District Judge Jan DuBois also imposed a year of supervised release after the sentence during which Beanie will payb ack taxes, interest and penalties he owes. Here’s the complete story, the IRS found that Beanie did not file tax returns from 1999 through 2002, except for a $10,000 tax payment in 2001 while he earned more than $2.2 million in taxable income for those years. So he owes $728,536 for those six years. He was not charged with tax offenses for the years 1999 through 2002 because the statute of limitations had expired. He has until Sept. 12 to surrender to the Bureau of Prisons. On a more musical note, once he is released or during his time away Beanie will be putting some brand new music out, the rapper has signed with Ruffhouse Records, and CEO Chris Schwartz has released a statement about the excitement of the deal,, his album “The Time” is set to be relaeased August 28, Check out what Chris had to say….
“We’re extremely proud to be re-launching Ruffhouse Records with Beanie Sigel as our first artist. His sentencing today doesn’t change any of that in the least. Regardless of this unfortunate situation, Beanie has created a tremendous body of work that is totally worthy of the Ruffhouse name. It’s almost ironic that the sentencing is happening on the eve of this record, because this record is about introspection and redemption. Beanie is truly one of the great lyricists in the hip-hop game. He stands tall among all the major MCs and he’s revered by all hip-hop aficionados around the world.”