Pay Yo Taxes: DMX Charged With 14 Counts of Tax Evasion & Fraud, Faces up to 44 Years in Prison

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DMX has been released from jail on bail after surrendering to authorities for failure to report nearly $2 million to the IRS.

The rapper appeared in Manhattan Federal Court on Friday (Jul. 11) and pleaded not guilty to 14 counts of tax evasion and fraud. He was also released from a NYC jail after posting $500,000 bond with stipulations.

DMX and his lawyer, Murray Richman, briefly spoke to press upon his release. The rapper thanked his fans for their support and added, “My life is in God’s hands.”

According to TMZ, he needed 2 co-signers in order post the bail. Conditions of the bail required X to submit to drug testing, he cannot carry any firearms, and must remain in the NYC area.

However, a future hearing will be scheduled to determine if he can leave the state for work purposes.

DMX turned himself in to authorities Thursday (Jul. 11) for failure to report $1.7 million of his income to the IRS between 2002-05.

Acting US Attorney Joon Kim said in a statement that X “went out of his way evade taxes” by avoiding personal bank accounts, using surrogate accounts (including business managers), opening accounts under false identities, and paying expenses exclusively with cash.

Via Page Six:

He earned more than $2.3 million between 2010 and 2015 but didn’t file a single tax return during that period, according to the statement. The hundreds of thousands of dollars he earned from royalties were allegedly deposited into the bank accounts of his managers and disbursed as cash, court papers allege.

Further, he lied about his income in a bankruptcy filing, claiming he earned a mere $10,000 in 2013 when he’d actually made $250,000, the papers state. The “Party Up (in Here)” rhymer, who has 15 children with nine different women, has filed for bankruptcy three times.

X was charged with 14 counts of tax evasion, failing to file a tax return, and attempting to obstruct IRS laws. If found guilty of all charges, he could face up to 44 years in jail, including five years for the top count.

Pay Yo Taxes: DMX Charged With 14 Counts of Tax Evasion & Fraud, Faces up to 44 Years in Prison is a post from: Gossip On This – Pop Culture, News, Videos & Humor

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