Actor Danny Trejo’s $2 million tax bill has forced the actor to file for chapter 11 bankruptcy to help him reorganize his business and clear his debts. For someone with such a stellar acting career as Danny Trejo, 78, it may seem quite unfair that he does not get as much recognition as some of his colleagues.
Although his acting career has slowed down in recent times, he has still managed to feature in several movies between 2020 and 2023. The actor also keeps himself busy overseeing some private business ventures.
So it was quite thrilling when he was honored at the famous Madame Tussauds museum with a life-size wax figure in November 2021. Trejo was in attendance at the unveiling of the wonderful creation and appeared overjoyed as he addressed the crowd present at the event. While speaking to ABC7 at the unveiling, an emotional Trejo said:
“It’s so humbling. I don’t know what to say.”
The actor also revealed that by being honored with a Madame Tussauds he had joined the ranks of Hollywood icons like Humphrey Bogart and John Wayne.
The statue was a spitting image of the “Spy Kids” actor and even had similar tattoos to him. It was revealed that a group of master artists had spent over six months putting the statue together.
Danny Trejo 'files for bankruptcy' to help with '$2million tax bill' https://t.co/VzFqjfjjK5
— Daily Mail Online (@MailOnline) February 14, 2023
Danny Trejo Files For Bankruptcy
Nearly two years down the line the veteran actor finds himself in a bit of a financial mess. Danny Trejo files for bankruptcy after mistakenly claiming deductions for years.
The costly mistake helped him to a hefty $2 million tax bill, which forced him to file for chapter 11 bankruptcy. This type of bankruptcy is commonly known as “reorganization bankruptcy.” It allows a company to continue functioning while restructuring its obligations.
This type of bankruptcy means that Trejo’s several businesses including his record label and chains of Los Angeles restaurants will not be affected by it. The veteran actor also has several food businesses in the Las Vegas area including Trejo Tacos and Trejo’s Coffee and Donuts.
While speaking to TMZ about the bankruptcy filing, Trejo claimed he was “mistakenly claiming deductions over the years that caught up with him.” The Death Wish star also jokingly said he now understands that dog grooming is not a “legit expense you can write off.” However, Trejo ended the interview on a positive note as he claimed he expects to settle all his debts at some point in 2024.
Fans of the actor would be hoping his calculations go as planned to avoid any more distractions. For now, they would try and focus on some of his upcoming 2023 projects.