Actor Stephen Baldwin Forced to Declare Bankruptcy

July 22, 2009

(ChattahBox) –Actor Stephen Baldwin, has filed for bankruptcy in New York on Tuesday. According to a court document the youngest of the Baldwin brothers is over a million dollars in debt.  The 43-year-old actor and and his wife Kennya, filed for Chapter 11 protection in New York claiming he owes more than $2.3 million, His main assets are a New York property valued at only $1.1 million. He also  has about $70,000 in credit card debt.  Income tax troubles are also an issue, with $749,974 owed to the IRS on taxes as far back as 1999 and a $139,288 debt for unpaid withholding taxes, as well as $194,527 in unpaid state income taxes.I know the recession has hit everyone hard, but it’s not like Baldwin hasn’t had a chance to make some money. But I am guessing the value of his home dropped so much he couldn’t get out from under it like so many. He has appeared in films most notably “The Usual Suspects” in 1995 as well as more recently in U.S. celebrity and reality television shows. Last month, he left the Costa Rican set of the US version of TV show I’m A Celebrity… Get Me Out of Here! after contracting an infection. Baldwin, a born-again Christian, co-hosts a radio show with evangelist Kevin McCullough and has a novel coming out in September.

The bankruptcy filing comes after rumors circulated last month that claimed Baldwin’s New York house was going to be auctioned off.  Baldwin slammed the claims, insisting that he was simply “renegotiating” his mortgage and branded the media rumours a “smear deal” against his good name.

Source: Hot Momma Celebrity Gossip

Source: WSJ


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One Response to “Actor Stephen Baldwin Forced to Declare Bankruptcy”

  1. IRS Estate Tax - $8,000 tax credit delays amended federal refund - Fulton Sun « IRS Estate Tax on July 22nd, 2009 11:03 am

    […] Actor Stephen Baldwin Forced to Declare Bankruptcy – Chattahbox.com(ChattahBox) –Actor Stephen Baldwin, has filed for bankruptcy in New York on Tuesday. According to a court document the youngest of the Baldwin brothers is over a million dollars in debt.  The 43-year-old actor and and his wife Kennya, filed for […]

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