10 Rapper I.O.U.’s – A History of Hip-Hop’s IRS Woes

For all of the money-focused bragging and boasting that hip-hoppers spit in song or speak in interviews, cash continues to rule everything around many. The latest artist to see his suspect financial dealings become public record is Young Buck, whose home in Hendersonville, Tennessee, was raided Tuesday (August 3) by armed Internal Revenue Service agents. With shotguns in hands, the IRS representatives entered Buck’s crib and seized jewelry, furniture, platinum plaques and recording equipment due to the former G-Unit member’s delinquent $300,000 tax bill. He was, however, able to keep the house and a car.

Though it’ll provide little comfort, Buck should realize that he’s in good company when it comes to hip-hop heads who’ve tested the mighty arm of the IRS and, unsurprisingly, lost. XXL takes a trip down memory lane to show Buck just to whom he can now relate.

NAS
Amount Owed: $2.5 million
Reason: Unpaid federal taxes from 2006 and 2007
Result: There are yet to be reports that Nas has settled his debt with the IRS. And with the monthly child support that he was ordered to pay to Kelis shortly before the IRS came calling in late 2009, the Queensbridge MC’s wallet has been on constant attack.

JERMAINE DUPRI

Amount Owed: Over $2.5 million
Reason: Federal taxes
Result: In 2002, the IRS seized his belonging including furniture and cars. Money Is a thang, apparently.

CHAMILLIONAIRE
Amount Owed: Over $175,000
Reason: Federal income tax
Result: In addition to the federal income tax, the Texas rapper is facing foreclosure on his Houston home, with the current asking price at $1.8 million. Guess it’s not just the Hip-Hop Police that are after him.

FAT JOE
Amount Owed: $139,000
Reason: State taxes
Result: Joe seems to be liquidating assets. He lost a judgment against Sun Trust for the mortgage on his Florida home, which he purchased for far more than that. In addition, he and his Terror Squad production team owe the state of New Jersey. Lien back.

DMX
Amount Owed: Approximately $1.5 million
Reason: Unpaid income tax from 2002, 2003, and 2005
Result: The multiplatinum selling artist’s case is still pending. And, to be honest, it’s probably not at the top of his list of worries right now in light of last week’s other legal troubles.*

LIL’ KIM
Amount Owed: Nearly $1 million
Reason: State taxes in New York, New Jersey, and California
Result: Kim is reportedly attempting to work out her money problems. Maybe taking shots at Nicki Minaj and throwing herself back into the spotlight is merely a step in her payment plan.

FOXY BROWN
Amount Owed: $640,000
Reason: Unpaid taxes from 2003, 2004, 2005, and 2006
Result: Despite the early decade issues, it took until July 2009 for the IRS to go after Fox. Her case remains unsolved and, much like DMX, her mind is likely on some other legal issues right now.

MC HAMMER
Amount Owed: $670,000
Reason: State and federal taxes
Result: The case remains unsettled. Surprise, surprise. Hey, at least he moved back into hip-hop’s collective consciousness recently, with Rick Ross’ “MC Hammer,” and Drake’s line from “Over”: “Will I blow all of this money baby, Hammer Time.” That’s a silver lining, right?

BIZARRE
Amount Owed: More than $25,000
Reason: State taxes
Result: According to the D12 member’s lawyer, an “accounting error” caused the IRS to go after his client. He also claimed that Bizarre is in the process of straightening out his money issues. Maybe if Biz's Friday Night At St. Andrews had been able to sell more than a thousand units, he could’ve avoided this fate.

SWIFTY MCVAY
Amount Owed: More than $250,000
Reason: State and federal taxes
Result: Not to be outdone by fellow D12 member Bizarre, Swifty owes a cool quarter mil' to Uncle Sam. According to his attorney, Jeffrey Freeman, the same man who reps Bizarre, Swifty is “working with the government in resolving his outstanding tax liability.”

Other artists with past issues with the IRS: Eve, Method Man, Flavor Flav, Swizz Beatz, Mystikal, Suge Knight, Master P.

id="140"]