Olympic swimmer Michael Phelps owes money for back taxes

Filed by Jessie K Powell on: November 22nd, 2009 in News
Tags: Michael Phelps
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Michael Phelps owes money to the taxman, according to reports in the US.

According to a tax lien filed last year the 14 times gold medalist owes the State of California ,289.16 for tax returns back in 2005 and 2006.

Swimmer Phelps, who endorses Speedo, Omega, PowerBar, Visa and ATandT, is estimated to be worth around million, claims the report on TMZ.com.

Phelps, 24, holds the record for the most gold medals won in single Olympics, his eight at the 2008 Beijing Games surpassed American swimmer Mark Spitz’s seven-gold performance at Munich in 1972.

source: Splash [ Read More ]"/> Olympic champ Michael Phelps owes money to the taxman, according to reports in the US.

According to a tax lien filed last year the 14 times gold medalist owes the State of California $23,289.16 for tax returns back in 2005 and 2006.

Swimmer Phelps, who endorses Speedo, Omega, PowerBar, Visa and ATandT, is estimated to be worth around $50 million, claims the report on TMZ.com.

Phelps, 24, holds the record for the most gold medals won in single Olympics, his eight at the 2008 Beijing Games surpassed American swimmer Mark Spitz’s seven-gold performance at Munich in 1972.

source: Splash News

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