Beanie Sigel was sentenced to two years in prison on Thursday (July 12) for a failure to file his federal income-tax returns. But before, Sigel begins his sentence on September 12, he plans on releasing a new album on Ruffhouse Records.

Ruffhouse CEO Chris Schwartz posted the news on the company’s website yesterday that Sigel would be dropping his new album, This Time, on August 28 to launch the new distribution deal between Ruffhouse and EMI Label Services. He added that Beans’ first single, “The Reunion,” would be shipped to radio this week.

"We're extremely proud to be re-launching Ruffhouse Records with Beanie Sigel as our first artist," said Schwartz in a statement posted on Ruffhouse’s website. "His sentencing [yesterday] doesn't change any of that in the least. Regardless of this unfortunate situation, Beanie has created a tremendous body of work that is totally worthy of the Ruffhouse name.

“It's almost ironic that the sentencing is happening on the eve of this record, because this record is about introspection and redemption,” he added. “Beanie is truly one of the great lyricists in the hip-hop game. He stands tall among all the major MCs and he's revered by all hip-hop aficionados around the world. I'm basically following the same criteria as the previous Ruffhouse Records for the artists we represent. We're working with self-established marquee artists, and Beanie is the perfect fit."

As of now, there’s no telling if the announcement of Sigel’s new album will affect his and Scarface’s proposed double joint LP, First 48, Second 48.

On Thursday, Sigel, real name Dwight Grant, was hit with the two-year sentence at the U.S. District Court for the Eastern District of Pennsylvania in his hometown of Philadelphia.

The sentencing came after Sigel pled guilty earlier this year for a failure to file his federal income-tax returns fro 2003-2005. Sigel earned in excess of $1 million in net income during that time period, but owed the IRS approximately $348,077 during that stretch. According to the Philadelphia Inquirer, prosecutors say Sigel still owes Uncle Sam $728,536 for the tax years 1999-2005.

“He’s been through a lot,” Fortunato N. Perri, Jr., his longtime lawyer of about 15 years told XXL. “I think he’s going to rebound well. He’s been spending a lot of time with his family. He’s matured. He will try to make his way to the top of the industry again.”

Coincidentally, Sigel shares the same August 28 release date as another Philly rhyme slinger, Meek Mill, who’s dropping his highly-anticipated, Dreams and Nightmares LP the same day.—Mark Lelinwalla