The New York Post reported over the weekend that Rev. Al Sharpton's nonprofit company held $1.6 million in debt, and Sharpton's entire empire, which also includes the National Action Network and two for-profit companies, held a combined debt of $5.3 million. The National Action Network's debt stemmed mostly from nearly $1 million in unpaid federal payroll taxes, interest, penalties, and settlements for the unpaid bills. Sharpton himself, who earned a $241,732 salary from his nonprofit, reportedly owes the IRS $2.6 million in income taxes and almost $900,000 in state taxes.
Earlier this year, Sharpton advocated raising taxes on the rich to reach a debt ceiling deal. Do you think the media will pick up on Sharpton's taxation hypocrisy?
The Post went on to break down precisely how much money Sharpton owes to the state and federal government, in addition to private organizations:
The defunct Rev-Al Communications Inc. owes the state almost $176,000, and Bo-Spanky is $3,500 behind on state-tax liens.
Sharpton has said he is on a repayment plan with state and federal-tax authorities.
NAN last year took in more than $3 million in donations, which allowed it to chip away at its tax burden.
This year, its board of directors voted to resolve the tax issues and paid all back state taxes, said Executive Director Tamika Mallory The civil-rights group is also addressing the $883,503 it owes in federal payroll taxes, she added.
And it is close to finished repaying the Peabody Hotel in Memphis $106,981 owed since 2008, when NAN skipped out on its bill after its annual convention, according to its 2010 audited financial statements.
Do you think a conservative pundit in Sharpton's situation would receive the same media pass?