Source: Prince Williams/ATLPics.net / Prince Williams
IRS Issues Tax Lien On Young Thugs Assets For $200K In Back Taxes
If there is one person you don’t want breathing down your neck it’s Uncle Sam. Uncle Sam will come for everything he is owed and then some. Which turns out to be the case for Atlanta rapper Young Thug.
According to documents secured by The Blast, Thug is now on the hook for over $175K. How did we get here? The bill reportedly started out as $85K then grew with interest and penalties and fees. Then the State Of Georgia hit him with a tax lien for his 2014 taxes which was only around $16K but doubled with those interest and fees from the past five years.
After you secure your first #1 album the IRS comings knocking it seems. The amount seems rather small to not have been taken care of. Hopefully, Thugger gets this taken care of soon because Uncle Sam will take more then they need to satisfy the debt if it comes to taking property.
Source: Rick Kern / Getty
Lil’ Wayne Reportedly Settles $14 Million Tax Debt
According to The Blast, Weezy recently coughed up a reported $14 million to settle his tax debt with the IRS. They recently filed releases of two separate federal tax liens against Wayne.
Back in 2017, Uncle Sam accused Wayne of failing to pay $7,341,399.07 in 2011 and $6,853,545.77 in 2012, for a grand total of $14,194,944.84.
Wayne may have used a chunk of his settlement money he received from Birdman after he settled their bitter legal beef and cashed in on a eight-figure payout from Universal Music Group.
Recently, Wayne revealed how JAY-Z had stepped in to help with his taxes, thanking the music mogul for caring about his financial struggles and helping navigate the traps of the industries.
Source: Vichai Phububphapan / EyeEm / Getty
Louisiana Accidentally Overpaid $26 Million In Tax Returns; Now They Want It Back
According to ABC News, the state of Louisiana recently announced that a computer error earlier this week accidentally gave some people double the refund they expected.
Louisiana officials have already begun the process of recouping the $26 million in duplicate refunds. Most of the accidental refunds will be recovered electronically, with banks withdrawing the direct deposits directly from the bank accounts.
“There is no need for the taxpayers to take any action as the department works to recover the overpayment of funds directly from their bank accounts,” Commissioner of Administration Jay Dardenne said in a statement Friday. “With the cooperation of several financial institutions, the process is working.”
According to the state, refunds that were processed correctly in early March were accidentally redeposited the following day. The mistake reportedly affected both direct deposit refunds and debit card refunds.