Being an ally to President Obama hasn’t prevented Rev. Al Sharpton from getting sanctioned by the IRS. It seems Sharpton and his various profit and nonprofit organizations owe millions of dollars in back taxes.
Here’s what the New York Times is reporting as a result of an investigation it did on Sharpton’s finances.
1. He owes more than $4.5 million in current state and federal taxes on his personal income and his for-profit companies, Raw Talent and Revals Communications. Sharpton has more than $3 million in personal federal tax liens and state tax liens of $777,657. Raw Talent owes a combined $717,329 on state and federal tax liens.
2. His nonprofit National Action Network (NAN) also failed to pay federal payroll taxes. NAN’s tax liability grew from $900,000 in 2003 to nearly $1.9 million by 2006. It also took on a questionable role during Sharpton’s 2004 run for the presidency, which may have violated FEC regulations.
However, in an interview with FoxNews.com, the 60-year-old civil rights leader and MSNBC host of “Politics Nation ” said he has in place an agreement with the government to repay his personal and business-related taxes and that his payments are on time.
“We have a signed agreement,” he said. “And what is in the agreement has been kept. We’ve been up to date. This is the most bogus story in the world.”
He also made clear that the roughly $1 million raised at New York event to celebrate his 60th birthday, on which The Times reported, will go toward repaying his debts.
In an email to EURweb from his media person, Jacky Johnson, the Sharpton camp informs that he hold a press conference today (11-19-14) at 11am (Eastern) at his Harlem headquarters to respond to the NY Times’ allegations. He will also share his and the National Action Network’s plan around the pending grand jury decisions in Ferguson, MO and Staten Island, NY