Tag Archives: Internal Revenue Service

Lauryn Hill Escapes Jail Sentence

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According to our buddy Illseed at AllHipHop.com Lauryn Hill will skate away from her Jail sentence and in turn must hustle hard for Sony Music to earn the new 5 song 1 Million Dollar deal that she just inked. She owed the IRS to the tune of $5o4,000 dollars after not paying her taxes for a few years. She will be able to pay off her debt to the feds and hopefully we will get some amazing music in the interim! Let us remember that Lauryn has not put out an entire album since 2002, so this has been a long time coming. Good for Sony Music! We don’t care how we get to hear her, we’re just glad that we do, and that she isn’t going to have to go to jail before we do it!

via:theurbandaily

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Dionne Warwick Files For Bankruptcy Owes $10 Million In Taxes

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Grammy-winning singer Dionne Warwick,  has filed for bankruptcy because of unpaid taxes that total about $10.7 million. According to reports, her debt started growing in the 1990s, and was originally only $2.2 million. After 50 years in show biz, the singer said all she had to show for it was $1,000 cash; assorted pieces of decades-old furniture; clothes; artwork and paintings; two fur coats, and two pairs of diamond earrings. The vast majority of her debt is $10.2 million in tax claims from the IRS and the state of California. She also owes a former manager about $500,000, and ran up a $20,000 Visa card debt, court papers showed.  With the amount she currently owes, this is bound to be a long, drawn out case.

via:gumbumper.com

Jermaine Dupri Pays Off $3 Million Tax Lien

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Jermaine Dupri Pays Off $3 Million Tax Lien
 Jermaine Dupri settles his debt to Uncle Sam.

Jermaine Dupri has paid off a $3 million lien for failing to file taxes as far back as 2006. According to TMZ, the So So Def honcho was slapped with a tax lien by the IRS in 2008, owing a total sum of $3,095,004.65. Dupri made good on his debt, with the IRS releasing the lien on January 18th. The rapper/producer has faced his fair share of money issues over the past few years. In early 2012, he paid off a $493,000 tax lien that had accumulated interest over time. He has also faced foreclosure on his Atlanta, Georgia mansion twice over the past five months. Dupri is currently prepping for So So Def’s 20th anniversary show, taking place this month in ATL.

Fat Joe Pleads Guilty To Tax Evasion, Released On $250,000 Bond

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Rico Love Hosts Club Bamboo For His 30th Birthday

Fat Joe has pleaded guilty to tax evasion after failing to pay income taxes for the years 2007 and 2008. According to TMZ, the Terror Squad chief was accused of dodging roughly $700,000 in income taxes over the two-year period. He appeared in federal court in New Jersey earlier this morning to enter his guilty plea, and was subsequently released on $250,000 bond.

In 2010, Joey Crack listed his $2 million Florida mansion for sale to reportedly liquidate assets to cover debts of nearly $140,000. He was also given a tax lien by the State of New Jersey from 2008 in the sum of $105,000, as well as a Mercer County, New Jersey lien for just under $32,000. Joey Crack will be sentenced in April and is facing up to two years in prison.