Pete Rose Tax Evasion

Celebrity Tax Evasion > Pete Rose Tax Evasion

Pete Rose was born on April 4, 1941 in Cincinnati, Ohio. For an athlete who was banned for life from playing, Rose was considered one of the greatest in the history of baseball. He was also one of the most controversial players. Rose broke into the big leagues when he played for the Cincinnati Reds in 1963 at 21 years of age where he was named National League’s Rookie of the Year. Rose played so hard that he earned the nickname Charlie Hustle.

Rose had a number of achievements in his 24 year career. He batted an average of .303, 4,256 hits which was a record setter and 44 game hitting in 1978.He made three appearances on the World Series, twice with Cincinnati in 1975 and 1976, and once with Philadelphia Phillies in 1980.With all these achievements, he was on his way to be inducted into the Hall of Fame when an investigation in 1989 revealed that he had been gambling on baseball games. This took place when he was both a player and manager for the Cincinnati Reds.

As a result, Pete Rose was banned for life from baseball. He later made an application to be reinstated. Some major league baseball officials thought they should give him a second chance, considering his achievements. The only condition placed on this chance was that Rose first apologizes for the whole incident. The only thing is that Rose maintained that he had not bet on baseball, despite overwhelming evidence.

There was speculation on whether Rose should be reinstated or not. Some thought he should be given a chance; after all other players with serious offenses like domestic violence had been pardoned. Yet others said he should not be reinstated at all. Their argument was, if Rose came back as a manager and made a decision no one else thought was right, the gambling issue would come up again.

The main point those who were against his reinstatement made was, that they were trying to protect the reputation of the game and not the reputation of Pete Rose.

Things did not get better for Rose as the Internal Revenue Service filed a tax lien of $ 1million against him for federal taxes in 2004.This lien was for back taxes dating far back as 1997.The lien was filed in Broward County courthouse in Florida. It listed Rose’s address as the Plantation office of a sports memorabilia firm with ties to Rose. The specific total of the lien is $973,693.28 covering 1997,1999,2000,2001 and 2002.1998 does not appear because another lien was filed against Rose in the State of California for that year. The IRS had previously sent notice for Rose to pay but their demands were still unpaid.

Rose has since paid his tax liens, since he learnt that this was what was holding his reinstatement into baseball. He also finally admitted to gambling on baseball. Pete Rose had served five months in prison in 1990 for a felony tax evasion; you would expect that this was lesson enough.

Celebrity Tax Evasion > Pete Rose Tax Evasion

GD Star Rating
loading...


Cite this page:

Contribute meaningful comments to the Accounting community...