Dionne Warwick

Could somebody explain to me how you "Suddenly Discover You Owe Ten Million In Taxes?"

Legendary singer Dionne Warwick has filed for bankruptcy after discovering she owes more than $10.2 million in taxes.

Warwick's publicist announced Monday that the "I Say a Little Prayer" singer cites fiscal mismanagement as the reason she owes so much, according to Reuters.

Warwick filed the bankruptcy papers March 21 in New Jersey. Most of the alleged "negligent and gross financial mismanagement" Warwick referenced occurred in the late '80s through the '90s.

Warwick listed her average monthly income as $20,950, with expenses totaling $20,940. Her publicist, Kevin Sasaki, says it is interest that Warwick is left to pay, as most of her back taxes were reportedly paid off.

"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."

Warwick, of course, is far from the only celebrity to declare bankruptcy in recent years. She joins a slate of money-troubled stars who include Toni Braxton, Mike Tyson and Elton John.

Warwick is second only to Aretha Franklin as the female artist with the most singles on the Billboard Hot 100 chart. She's won five Grammys, including awards for hits "Do You Know the Way to San Jose," "I'll Never Fall in Love Again" and "That's What Friends Are For," which features John, Gladys Knight and Stevie Wonder.

Seriously?! How does this even happen???? And Elton John filed for bankruptcy?! I must be living under a rock!

Well, if you're famous, you depend upon managers to do what they are supposed to do: manage. If this person was skimming off the top or not paying her taxes, she might not have known about it for a while.

I didn't know about Elton John, either, Amy.

I was thinking the same thing Cheryl.....most famous people have people to do the books and take care of things. She has probably been paying someone to take care of this, to have her taxes done and in the meantime, they have been pocketing the money without her knowledge.

I didn't know that about Elton John, so I read up on it. Sounds like a classic case of over-spending. It said that he filed for bankruptcy in 2002, and that his average credit card bills were $400,000 per month! I guess he's not the jeans and t-shirt guy I always thought he was.

No... no, it's not.

Riiiiiiight......

Wow!!!! There are no words...!!!