Legendary soul singer Dionne Warwick has filed for bankruptcy.
The 'Walk On By' star has reportedly found herself with a $1 million (£650,000) tax bill.
The debt stems from a tax bill in the '90s which was originally valued at $2.2m by the government.
"She's actually paid more than the face amount of the taxes, but with all of the crazy interest and penalties that they add, the number kept mushrooming - even though she paid off the amount that she owed in terms of the actual taxes," Stolz explained.
He also claimed, "She was an innocent victim of terrible mismanagement."
The 72-year-old singer, the late Whitney Houston's cousin, is the second most-charted female vocalist of all time in the rock era (1955–1999) with 56 singles making the Billboard Hot 100 between 1962 and 1998.
The multiple Grammy Award-winner, who has sold more than 100 million albums worldwide, released her first single, 'Don't Make Me Over', in 1962. Her most notable UK hits are 'Walk On By' and 'Do You Know the Way to San Jose?'
Dionne Warwick
Magnolia Pictures And Participant Media With The Cinema Society Present A Screening Of "A Place At The Table" - Arrivals(01 of30)
NEW YORK, NY - FEBRUARY 27: Dionne Warwick attends Magnolia Pictures And Participant Media With The Cinema Society Present A Screening Of 'A Place At The Table' at MOMA - Celeste Bartos Theater on February 27, 2013 in New York City. (Photo by Jamie McCarthy/Getty Images) (credit:Getty Images)
The 16th Annual Wall Street Project Gala Fundraising Reception(02 of30)
NEW YORK, NY - JANUARY 31: (L-R) The Reverend Jesse Jackson, singer Dionne Warwick and record producer and founder of Motown Records Berry Gordy attend The 16th Annual Wall Street Project Economic Summit - Day 1 at The Roosevelt Hotel on January 31, 2013 in New York City. (Photo by Jemal Countess/Getty Images) (credit:Getty Images)
Music - Dionne Warwick(03 of30)
American singer Dionne Warwick on stage. (credit:PA)
Entertainment - American singer Dionne Warwick - Heathrow Airport, London(04 of30)
American singer Dionne Warwick at Heathrow Airport in London after flying in from Sydney. She is performing at the Royal Albert Hall in a 'USA for Africa' concert in aid of famine relief. (credit:PA)
Entertainment - Dionne Warwick - Heathrow Airport, London(05 of30)
American singer Dionne Warwick arriving at Heathrow Airport from Los Angeles. She is embarking on a two-week tour of Britain. (credit:PA)
Entertainment - Dionne Warwick - Heathrow Airport, London(06 of30)
American singer Dionne Warwick at Heathrow Airport following a week-long visit to London. (credit:PA)
Mobo Awards 2012 - Liverpool(07 of30)
Dionne Warwick arriving for the MOBO Awards 2012, at the Echo Arena, Liverpool. (credit:PA)
Mobo Awards 2012 - Liverpool(08 of30)
Dionne Warwick in the press room at the MOBO Awards 2012, at the Echo Arena, Liverpool. (credit:PA)
MOBO Awards - Red Carpet Arrivals(09 of30)
LIVERPOOL, ENGLAND - NOVEMBER 03: Singer Dionne Warwick attends the 2012 MOBO awards at Echo Arena on November 3, 2012 in Liverpool, England. (Photo by Samir Hussein/Getty Images) (credit:Getty Images)
MOBO Awards - Red Carpet Arrivals(10 of30)
LIVERPOOL, ENGLAND - NOVEMBER 03: Singer Dionne Warwick attends the 2012 MOBO awards at Echo Arena on November 3, 2012 in Liverpool, England. (Photo by Samir Hussein/Getty Images) (credit:Getty Images)
The Q Awards - London(11 of30)
Dionne Warwick with the Classic Song award at the 2012 Q Awards at the Grosvenor House Hotel, Park Lane, London (credit:PA)
The Q Awards - London(12 of30)
Dionne Warwick at the 2012 Q Awards at the Grosvenor House Hotel, Park Lane, London (credit:PA)
BET's Black Girls Rock 2012 - Show(13 of30)
NEW YORK, NY - OCTOBER 13: Alicia Keys (L) and Dionne Warwick smile at BET's Black Girls Rock 2012 at Paradise Theater on October 13, 2012 in New York City. (Photo by Bryan Bedder/Getty Images for BET) (credit:Getty Images)
BET's Black Girls Rock 2012 - Show(14 of30)
NEW YORK, NY - OCTOBER 13: Singer Dionne Warwick speaks onstage at BET's Black Girls Rock 2012 at Paradise Theater on October 13, 2012 in New York City. (Photo by D Dipasupil/Getty Images for BET) (credit:Getty Images)
BET's Black Girls Rock 2012 - CREST Style And Smile Booth(15 of30)
NEW YORK, NY - OCTOBER 13: Singer Dionne Warwick attends BET's Black Girls Rock 2012 CREST Style And Smile Booth at Paradise Theater on October 13, 2012 in New York City. (Photo by Bryan Bedder/Getty Images for BET) (credit:Getty Images)
Presentation Of 2012 NBLCA Choose Life Award To Dionne Warwick(16 of30)
NEW YORK, NY - JULY 09: (L-R) C. Virginia Fields and Dionne Warwick pose together during The Presentation Of 2012 NBLCA Choose Life Award To Dionne Warwick on July 9, 2012 in New York City. (Photo by Donald Bowers/Getty Images for NBLCA) (credit:Getty Images)
Glamour Women of the Year Awards 2012(17 of30)
LONDON, UNITED KINGDOM - MAY 29: Dionne Warwick attends Glamour Women of the Year Awards 2012 at Berkeley Square Gardens on May 29, 2012 in London, England. (Photo by Stuart Wilson/Getty Images) (credit:Getty Images)
2012 Library Of Congress Gershwin Prize For Popular Song(18 of30)
WASHINGTON, DC - MAY 08: Dionne Warwick and Stevie Wonder perform during the 2012 Library of Congress Gershwin Prize for Popular Song at The Library of Congress on May 8, 2012 in Washington, DC. (Photo by Kris Connor/Getty Images) (credit:Getty Images)
Singer Dionne Warwick arrives for the op(19 of30)
Singer Dionne Warwick arrives for the opening gala of the historic Howard Theater in Washington, DC on April 12, 2012. First opened in 1910 in the 'Black Broadway' neighborhood of the capital, it has remained closed for the past 32 years until reopening on April 09, 2012. In its heyday, the Howard Theater featured vaudeville, live theater, musicals and local talents shows, bringing the newest and biggest names of the era in black entertainment. Some of the most celebrated entertainers who performed there include Duke Ellington, Ella Fitzgerald, Billy Eckstine, Sarah Vaughn, Sammy Davis Jr., Aretha Franklin, James Brown, Marvin Gaye and Miles Davis. AFP PHOTO / Eva HAMBACH (Photo credit should read EVA HAMBACH/AFP/Getty Images) (credit:Getty Images)
US singer Dionne Warwick holds her troph(20 of30)
US singer Dionne Warwick holds her trophy for 'Musical Lifetime Achievement' during the 47th Golden Camera award ceremony in Berlin, Germany, on February 4, 2012. The award of of the Axel Springer Verlag publishing house honours outstanding achievements in television, film and entertainment. AFP PHOTO / POOL/ MAURIZIO GAMBARINI (Photo credit should read MAURIZIO GAMBARINI/AFP/Getty Images) (credit:Getty Images)
US singer Dionne Warwick (L) and US actr(21 of30)
US singer Dionne Warwick (L) and US actress Scarlett Johansson on stage after the 47th Golden Camera award ceremony in Berlin, Germany, on February 4, 2012. The award of of the Axel Springer Verlag publishing house honours outstanding achievements in television, film and entertainment. AFP PHOTO / POOL/ MAURIZIO GAMBARINI (Photo credit should read MAURIZIO GAMBARINI/AFP/Getty Images) (credit:Getty Images)
Tribeca Film & American Express Present The 2011 Tribeca Film Festival & Cinema Society Premiere Of "Last Night"(22 of30)
NEW YORK, NY - APRIL 25: Dionne Warwick attends the premiere of 'Last Night' during the 2011 Tribeca Film Festival at BMCC Tribeca PAC on April 25, 2011 in New York City. (Photo by Michael Loccisano/Getty Images) (credit:Getty Images)
2011 Pre-GRAMMY Gala & Salute To Industry Icons Honoring David Geffen - Show(23 of30)
BEVERLY HILLS, CA - FEBRUARY 12: Singers Whitney Houston (L) and Dionne Warwick perform onstage at the 2011 Pre-GRAMMY Gala and Salute To Industry Icons Honoring David Geffen at Beverly Hilton on February 12, 2011 in Beverly Hills, California. (Photo by Larry Busacca/Getty Images) (credit:Getty Images)
2011 Pre-GRAMMY Gala & Salute To Industry Icons Honoring David Geffen - Show(24 of30)
BEVERLY HILLS, CA - FEBRUARY 12: Singers Whitney Houston (L) and Dionne Warwick perform onstage at the 2011 Pre-GRAMMY Gala and Salute To Industry Icons Honoring David Geffen at Beverly Hilton on February 12, 2011 in Beverly Hills, California. (Photo by Larry Busacca/Getty Images) (credit:Getty Images)
2011 Pre-GRAMMY Gala And Salute To Industry Icons Honoring David Geffen - Arrivals(25 of30)
BEVERLY HILLS, CA - FEBRUARY 12: Singer Dionne Warwick arrives at the 2011 Pre-GRAMMY Gala and Salute To Industry Icons Honoring David Geffen at Beverly Hilton on February 12, 2011 in Beverly Hills, California. (Photo by Jason Merritt/Getty Images) (credit:Getty Images)
Clive Davis And The Recording Academy's 2011 Pre-GRAMMY Gala And Salute To Industry Icons Honoring David Geffen - Inside(26 of30)
BEVERLY HILLS, CA - FEBRUARY 12: (EXCLUSIVE COVERAGE) (L-R) Singer Whitney Houston, Singer Dionne Warwick and Bobbi Kristina Brown arrives at the 2011 Pre-GRAMMY Gala and Salute To Industry Icons Honoring David Geffen at Beverly Hilton on February 12, 2011 in Beverly Hills, California. (Photo by Larry Busacca/Getty Images For The Recording Academy) (credit:Getty Images)
amfAR New York Gala To Kick Off Fall 2011 Fashion Week - Inside(27 of30)
NEW YORK, NY - FEBRUARY 09: Singers Gladys Knight (L) and Dionne Warwick (R) attend the amfAR New York Gala to kick off Fall 2011 Fashion Week at Cipriani Wall Street on February 9, 2011 in New York City. (Photo by Larry Busacca/Getty Images) (credit:Getty Images)
Clive Davis And The Recording Academy's 2011 Pre-GRAMMY Gala And Salute To Industry Icons Honoring David Geffen - Red Carpet(28 of30)
BEVERLY HILLS, CA - FEBRUARY 12: Singer Dionne Warwick (L) and producer Clive Davis arrive at the 2011 Pre-GRAMMY Gala and Salute To Industry Icons Honoring David Geffen at Beverly Hilton on February 12, 2011 in Beverly Hills, California. (Photo by Larry Busacca/Getty Images For The Recording Academy) (credit:Getty Images)
The Hunger Project(29 of30)
LONDON, ENGLAND - JANUARY 09: Dionne Warwick performs live on stage during the Hunger Project Concert at the Apollo Victoria on January 9, 2011 in London, England. The Hunger Project is a global charity operating in 13 countries running programmes that contribute to the sustainable end of world hunger. (Photo by Ian Gavan/Getty Images for The Hunger Project) (credit:Getty Images)
Dionne Warwick Performs in Manchester(30 of30)
MANCHESTER, ENGLAND - JUNE 01: Dionne Warwick performs at Bridgewater Hall on June 1, 2012 in Manchester, England. (Photo by Shirlaine Forrest/WireImage) (credit:Getty Images)