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Star’s Former Manager in Tax Trouble

Michael Jackson’s former manager and spokeswoman  pleaded guilty Wednesday in a Washington, D.C. federal court to charges that she hadn’t paid hundreds of thousands of dollars in taxes.

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Raymone Bain pleaded guilty to two counts of failing to file federal and District of Columbia income tax returns between 2006 and 2008 despite substantial earnings as the pop star’s general manager and president of the Michael Jackson Co.

Sentencing was scheduled for Aug. 31, 2011. She faces a maximum 12 month prison term and $100,000 fine for the federal charges and a six month prison term and $5,000 fine for the District of Columbia violation.

According to evidence, she was responsible for the daily operation of the Michael Jackson Co., including its “financial, public relations and marketing tasks.” Despite substantial earnings, the tax loss was $200,000 to $400,000.

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  • The Tax Blog brings together a team of award-winning tax journalists from the Dow Jones network and around the web to examine the tax issues, changes and legislation that affect families, investors and small business owners. Our contributors include Tax Report columnist Laura Saunders (WSJ), Tax Guy columnist Bill Bischoff and senior reporter Jilian Mincer (SmartMoney.com), retirement-focused reporter Anne Tergesen (WSJ), wealth management writer Arden Dale (Dow Jones Newswires), TaxWatch columnist Eva Rosenberg and personal finance reporter Andrea Coombes (MarketWatch), and reporter Alyssa Abkowitz (SmartMoney). They’ll provide the latest news and insight, mine the tax code for tips and loopholes, and answer your questions about tricky tax situations. Contact the The Tax Blog with ideas, suggestions or tax questions at thetaxblog@dowjones.com.

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