Singer Dionne Warwick files for bankruptcy

Tue Mar 26, 2013 1:16am EDT

Dionne Warwick performs during the Jamaica Jazz and Blues festival in Trelawny, January 26, 2013. Picture taken January 26, 2013. REUTERS/Gilbert Bellamy

Dionne Warwick performs during the Jamaica Jazz and Blues festival in Trelawny, January 26, 2013. Picture taken January 26, 2013.

Credit: Reuters/Gilbert Bellamy

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(Reuters) - Grammy Award-winning singer Dionne Warwick has filed for bankruptcy in New Jersey, citing tax liabilities she has attributed to financial mismanagement, her publicist said on Monday.

Warwick, 72, known for "Do You Know the Way to San Jose?" and other popular songs, filed the petition on March 21 in the U.S. Bankruptcy Court in New Jersey, the state where she was born and currently lives. She listed total assets of $25,500 and total liabilities of more than $10.7 million, nearly all tax claims by the Internal Revenue Service and the state of California, according to the filing.

The personal bankruptcy filing was due to "negligent and gross financial mismanagement" in the late 1980s through mid-1990s, Warwick's publicist, Kevin Sasaki, said in a statement.

The IRS and California tax claims total more than $10.2 million, mostly from the 1990s, according to the petition, which listed Warwick's average monthly income as $20,950 and expenses at $20,940.

Sasaki said the actual back taxes owed had already been paid, but the penalties and interest has continued to accrue.

"In light of the magnitude of her tax liabilities, Warwick has repeatedly attempted to offer re-payment plans and proposals to the IRS and the California Franchise Tax Board for taxes owed," Sasaki said. "These plans were not accepted, resulting in escalating interest and penalties."

A five-time Grammy winner, Warwick took her first in 1968 for "Do You Know the Way to San Jose?" and her second two years later for the album "I'll Never Fall in Love Again."

(Reporting by David Bailey in Minneapolis; Editing by Lisa Shumaker)

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Comments (5)
Manderson wrote:
Well at least everyone has health insurance, right?

Mar 26, 2013 2:16am EDT  --  Report as abuse
mikepc wrote:
she must have seen that coming years ago ,what with her being such a pyshic

Mar 26, 2013 2:20am EDT  --  Report as abuse
bigweenie9 wrote:
Sadly, Miss Warwick stole a lot of money from the proceed that resulted in the sales from the meaningful, popular single That’s what friends are for. Elton John, Gladsis Knight and Stevie Wonder sang with Warwick on the single. The proceeds where to be donated to people suffering from AIDS. In 1985 the epidemic was at it’s height. Miss Warwick pocketed the proceeds.

Mar 26, 2013 2:27am EDT  --  Report as abuse
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