Comedian Sinbad has reportedly filed for bankruptcy for the second time since 2009.

According to TMZ's website, Sinbad filed for Chapter 13 bankruptcy last month, claiming he owes over $10 million in debt and only has $131,000 in assets.

Sinbad, whose real name is David Adkins, also claims he owes $8.3 million to the IRS for taxes from 1998-2006, and admits he owes both state and federal taxes from 2009-2012.

His 2009 bankruptcy case was dismissed after he failed to file the right paperwork.

Sinbad was born in Benton Harbor and is known for such films as Good Burger, Houseguest and Jingle all the Way. He also hosted his own television show from 1993-1994.

Obama didn't think he was funny, I guess.

Jeez, he owes more money than people need to live off of for their entire lives! How do people make such bad decisions?

The IRS laws are really complex.

2freaky4church1 said:

The IRS laws are really complex.

not to an accountant

After Ray Harryhausen passed away,
I've been revisiting those old Sinbad movies that I grew up watching as a kid (not to mention the original Clash Of The Titans and Jason & the Argonauts).

Perhaps he ought to convince someone to give him the starring role in a Good Burger Part 2???

Dude is playing the game.............

Believe me, accountants do not understand the law. Any tax expert will tell you. Accountants tend to just guess.

Dont'cha wonder sometimes what happens to the moolah these folks earn?

I always liked Sinbad and I hope he gets it together.

2freaky4church1 said:

The IRS laws are really complex.

Not really. It's pretty easy to figure out the MAXIMUM amount you owe. Where it gets complicated is when you try to start classifying stuff in ways to minimize what you owe. Generally what happens is that people wrongly classify something as a deduction, but not because it was complicated. They did it in order to minimize their taxes.

babynoz said:

Dont'cha wonder sometimes what happens to the moolah these folks earn?

I always liked Sinbad and I hope he gets it together.

Ditto, me too.

I'm surprised he acquired the amount of wealth to warrant those huge taxes. I guess after penalties and fees are added, the tax bill soars to the stratosphere.

Wow Sinbad...He Tweets regularly and posts pics of Concerts he's hosting or co-sponsoring. I watched his Reality show on "We" and it was alright just no Drama. "we" didnt order it for a 2nd season. He talked about how he lost his Big House and had to downsize everything. I felt sorta sad for him cuz Sinbad is a nice Brotha, but not being financially Responsible is a PROBLEM and can be hazard to your health.

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What in the world is he doing with the money he's generating from the Music shows he's Sponsoring? It's as if he's using that money or spending it, then NOT paying the Taxes then crying and saying he's BROKE....I Love'ya Sinbad but something aint adding up man....You better stop Tweeting about those shows you sponsoring....Hello....LOL...

2freaky4church1 said:

Believe me, accountants do not understand the law. Any tax expert will tell you. Accountants tend to just guess.

Not the one's I know.

I like Sinbad.