Danny Trejo ‘files for bankruptcy to tackle $2 million tax bill over mistaken filings’
Danny Trejo has reportedly filed for a “reorganisation bankruptcy“ that will let his companies stay in business as he deals with an apparent $2 million tax bill he’s said to have admitted came from “mistakenly” claiming deductions “for years”.
Danny Trejo has reportedly filed for bankruptcy to help deal with a $2 million tax bill.
The ‘Desperado’ actor, 78, is said to be worth $16 million thanks to his appearances in at least 145 films, but is now said to be in the midst of re-organising his assets after he “mistakenly claimed deductions for years”.
TMZ is reporting the star – whose best-known roles include parts in ‘Machete’, ‘Spy Kids’ and ‘Breaking Bad’ and who runs businesses such as Trejo Tacos and Trejo’s Coffee and Donuts in Las Vegas – has filed for Chapter 11 bankruptcy.
It is referred to as “reorganisation bankruptcy”, which lets a company stay active while it restructure itself.
The publication added the decision had been taken to deal with a huge tax bill, which has been estimated at around $2 million.
Danny is said to have told TMZ he had been “mistakenly” claiming deductions “over the years” that “caught up with him'.
The outlet added he joked he is now aware dog grooming is not a “legit expense” that can be written off in tax filings.
His enterprises are said to be owned by corporations he created to run them, and Danny is said to be hoping to be free of debt in 2024.
The four-times divorced dad-of-three recently had a wax figure of himself unveiled at Madame Tussauds, in November 2021, and said at the time: “It was so humbling, and I’m usually pretty good at just winging a speech, but when I saw that I was just, like, tongue tied.”