The Orlando Sentinel reports that golfer Jim Thorpe has pleaded guilty to two counts of failure to pay income taxes, according to a plea agreement signed today:
Thorpe, who is a more than 10-time winner on the Champions Tour, was charged in February with seven counts of failing to file income tax returns and failing to pay income taxes. He is accused of failing to pay more than $1.5 million in income taxes.
The two counts Thorpe is expected to plead guilty to carry a maximum sentence of one year in prison, probation and a fine. The golfer agrees to pay all taxes, interest and penalties owed to the Internal Revenue Service for the years 2002-2004, the plea agreement said.
From 2002 to 2004, Thorpe earned more than $5 million, the plea agreement said. And though he filed time extensions with the IRS to file his personal and corporate income tax returns, he did not make any payments for personal income taxes with the extensions, the court document said.
The amount of Thorpe’s unreported income for the three years is about $5.3 million, with a total tax loss at about $2 million, the plea agreement said.
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2 responses so far ↓
1 HappyTaxDude // Sep 16, 2009 at 8:21 am
What? He doesn’t get a mulligan?
2 If You’re a Celebrity, Pay Your Taxes « Taxable Talk // Oct 17, 2009 at 11:17 pm
[...] Yet another celebrity has gotten into trouble with the IRS. Golfer Jim Thorpe didn’t pay his taxes of about $1.5 million. He’s going to plead guilty to two counts and will pay all of his back taxes, penalties, and interest. The Tax Lawyer has more. [...]
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