Jay-Z may be celebrating his Cash King status, but his former protégé Beanie Sigel is having some big federal issues dealing with his income.

After admitting in federal court that he did not file or pay taxes between 2003 and 2005, MTV News reports that now Sigel is looking at serving up to three years in prison. He will be sentenced on November 18.

Prosecutors believe that the MC owes about $350,000 on an unreported income of $1 million. While he does admit to three counts of failure to file his federal income tax returns, his attorney, Fortunato Perri Jr., asserts that the amount of money the government claims he owes is incorrect.

Perri Jr. told MTV News that they hope to successfully challenge the numbers at the sentencing hearing. If they are able to do so, the lowered amount owed to the government in taxes may alter the judge’s decision on Sigel’s punishment. It could even reduce the three year maximum looming over Sigel.

Sigel has seen better days. He released his album the Truth in 1999, and signed with Jay Z’s Roc-A-Fella Records. Under the record company he achieved some success but saw it decline when he he went to prison in October 2004 on weapon charges. Later he released four solo albums and started his own rap group and label record, State Property. State Property also saw mediocre success through its clothing line and two movies.

Despite his career and ventures, the Philadelphia-based rapper maintains he wasn’t really making that much money. He told MTV’s Sway last month on RapFix Live, that while it may have looked like he was getting money, “he didn’t get everything he felt he was owed.”

In addition although the clothing line and movie scripts were his ideas, he only owned 20 percent of State Property and only got “SAG wages” from the movies.