Jake Paul’s problems with federal agencies keep piling up. Last week, the 23-year-old content creator’s Calabasas mansion was raided by the FBI. The raid, which was connected to Paul’s involvement in a May 2020 riot that left a Scottsdale, Arizona mall heavily damaged, isn’t the only issue Paul is facing. The YouTube star also has unfinished business with the IRS.
What is Jake Paul’s net worth?
Paul is said to be worth an estimated $19 million thanks to his YouTube channel, sponsorships, and line of merchandise. In 2018, he became the second-highest-paid YouTube celebrity in the world, according to Forbes. According to the publication, Paul earned $21.5 million, only narrowly missing out on the top spot.
Ryan ToysReview is the only YouTuber who earned more, clock in with an estimated income of $22 million. Paul’s older brother, Logan Paul, made substantially less. The elder Paul had a rough 2018, with several controversies adversely affecting his earning potential. In the fiscal year, the elder Paul brother earned $14.5 million.
How much does Jake Paul owe the IRS?
While the FBI raid made headlines, Paul’s most pressing issue at the moment is with the Internal Revenue Service. According to Newsweek, Paul owes the IRS just over $2 million. The debt is related to Pauls’ 2019 earnings. His representatives have not issued a public statement regarding the debt.
In March, the IRS extended the filing date for 2019 taxes due to the Coronavirus pandemic. April 15 is the traditional deadline to file taxes in the United States, but the 2020 cutoff was extended until July 15. According to the IRS, all tax forms needed to be filed by the date, and any owed taxes needed to be paid by July 15, as well. As of August 5, Paul had failed to pay his outstanding bill.
Will federal charges against Jake Paul be announced?
The Scottsdale Police Department issued Paul a summons in June 2020 for his alleged role in the Scottsdale riot. Paul made a statement saying that neither he nor his friends were involved in the looting that took place after a demonstration. He was set to appear in court in August, but the city dropped their charges against Paul, due to the federal investigation.
Federal charges have not yet been announced. Fox News notes that the state can choose to refile charges at a later time. Paul, along with his longtime friend,Armani Izadi, was charged with criminal trespassing and unlawful assembly in Arizona. Both charges are misdemenors.
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