Nelly Hit With $2,412,283 Federal Tax Lien
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Just think of the IRS as the living embodiment of Rihanna’s “bi*ch Better Have My Money.” And when it comes to collecting their coins, they don’t play.
Especially when you’ve skated on over $2 million. Nelly has found himself in the cross hairs of Uncle Sam who hit the diamond rapper with $2,412,283 federal tax lien in August.
TMZ reports, the St. Lunatic also has issues on the state level as the Missouri Department of Revenue said he is still on the hook for $149,511 in unpaid state taxes from 2013.
With that amount of money owed, the IRS could start seizing assets and property. According to the report, Nelly is already working on getting the situation rectified. Still, that’s a lot of money.
In more positive news, earlier this summer, Nelly’s debut album Country Grammar became only the ninth rap album to reach certified diamond status. The album dropped back in 2000, and 16 years later reaches the coveted mark of over 10 million records sold.
Executives from RIAA awarded Nelly with the diamond plaque on July 26 at the Musicians On Call event in Philadelphia.
Country Grammar joins 2Pac’s All Eyez On Me and Greatest Hits, Eminem’s The Eminem Show and The Marshall Mathers LP, Outkast’s Speakerboxxx/The Love Below, MC Hammer’s Please Hammer, Don’t Hurt ‘Em, The Notorious B.I.G.’s Life After Death and Beastie Boys’ Licensed To Ill as the only rap albums to go diamond.
Especially when you’ve skated on over $2 million. Nelly has found himself in the cross hairs of Uncle Sam who hit the diamond rapper with $2,412,283 federal tax lien in August.
TMZ reports, the St. Lunatic also has issues on the state level as the Missouri Department of Revenue said he is still on the hook for $149,511 in unpaid state taxes from 2013.
With that amount of money owed, the IRS could start seizing assets and property. According to the report, Nelly is already working on getting the situation rectified. Still, that’s a lot of money.
In more positive news, earlier this summer, Nelly’s debut album Country Grammar became only the ninth rap album to reach certified diamond status. The album dropped back in 2000, and 16 years later reaches the coveted mark of over 10 million records sold.
Executives from RIAA awarded Nelly with the diamond plaque on July 26 at the Musicians On Call event in Philadelphia.
Country Grammar joins 2Pac’s All Eyez On Me and Greatest Hits, Eminem’s The Eminem Show and The Marshall Mathers LP, Outkast’s Speakerboxxx/The Love Below, MC Hammer’s Please Hammer, Don’t Hurt ‘Em, The Notorious B.I.G.’s Life After Death and Beastie Boys’ Licensed To Ill as the only rap albums to go diamond.
Comments
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That's a whole lotta band aids.
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Derrty got that
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dalyricalbandit wrote: »Derrty got that
I dunno man when was Nelly's last hit? 1999? -
This ? must be going to hr block
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Why don't they just pay their damn taxes?
You already know u can't avoid it. -
Damn @PimpJuice you used to move units like me and Em what happened
Had a spark when you started but now your accountant garbage
Call me on my global phone and I hook you up with my dude
He a beast at hula hooping through loopholes, working round ?
Only thing I need from you is a exclusive album for TIDAL. Might wanna call it Backwards Hustler
On another note this IC life done made your boy ambidextrous
Posting advice with my right, whippin white with my left wrissssst. Damn Daniel -
Lmao at Jay-Z throwing shots at Nelly
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Ion know why rappers think they can just not pay the IRS.
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Never understood the nelly hate. He had a nice lol run and his first album while it may not have changed thwvgame it was something new
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The user and all related content has been deleted.
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The user and all related content has been deleted.
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Did he have some small ownership in a nba team?
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Shawn Jay-Z Carter wrote: »Damn @PimpJuice you used to move units like me and Em what happened
Had a spark when you started but now your accountant garbage
Call me on my global phone and I hook you up with my dude
He a beast at hula hooping through loopholes, working round ?
Only thing I need from you is a exclusive album for TIDAL. Might wanna call it Backwards Hustler
On another note this IC life done made your boy ambidextrous
Posting advice with my right, whippin white with my left wrissssst. Damn Daniel
https://www.youtube.com/watch?v=cAh8SgMZDbA -
And to think he just had a single called "Get Like Me".... nah bruh i dont wanna be in those shoes
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Damn props @sion for breaking it down. I didn't know that. I also thought that they didn't tax show money at random events.
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Nelly will be good
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you skate on those taxes you might as well leave the country, there is no hiding from the government here
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Shawn Jay-Z Carter wrote: »Damn @PimpJuice you used to move units like me and Em what happened
Had a spark when you started but now your accountant garbage
Call me on my global phone and I hook you up with my dude
He a beast at hula hooping through loopholes, working round ?
Only thing I need from you is a exclusive album for TIDAL. Might wanna call it Backwards Hustler
On another note this IC life done made your boy ambidextrous
Posting advice with my right, whippin white with my left wrissssst. Damn Daniel
:joy: Memph bleek hilarious bra -
Cutler 26 INT's LOL! wrote: »Ion know why rappers think they can just not pay the IRS.Black_Samson wrote: »
Rappers usually pay accountant nerds to deal with that and they ? up... ( Fat Joe and Dame can be used as an example) but its the individual's responsibility to deal w his taxes....so once u settle w the IRS then u can go after the accountant but its a protracted affair... -
Busta Carmichael wrote: »Why don't they just pay their damn taxes?
You already know u can't avoid it.
They do, it's just bad accounting. A lot of rappers prefer to be paid in cash when they tour or do shows because they support large entourages. But what clubs and venues do is if they pay cash there's no way to say for sure what was actually paid so they'll write off the expenses onto the event. Say Nelly is to he paid 100k for an appearance but the even costs 500k, they'll do their taxes and mark expenses as 300k or whatever. When the IRS looks at it they think it's 300k paid to the rapper. There's still another huge misconception that if you get paid in another state you don't have to pay taxes there if you live somewhere else like Florida where there's no state tax, but that's not true. Which is another misconception.
People prefer to be paid cash cuz they think you don't have to pay taxes because it's "under the table" and no one can know for sure what was paid. The thing is, businesses, venues and clubs normally track their money and where it goes. If the IRS wants to know they just follow the money. On Nelly's accountant's part since it was cash there was no real way to mark it down so they prolly told him it didn't need to be filed. That's why you hear about ? like this with athletes and rappers.
Yep, but Atlethes are usually straight (current playing ones, that is), because they have to do a 1099 for every State they play in during road games. But yea Im sure now rapper does that -
double post somehow
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You've got to be kidding!!
Like Jason. -
Until Nelly goes to prison, he shouldn't be clowned, ? happens - people with income get audited on the regular, IRS could be questioning BALCO expenses and others. Could be he paid 2 and they say nah should've been 4.
Seems like media sensationalism but you don't miss meetings with IRS you go with your lawyer and accountant -
Shawn Jay-Z Carter wrote: »Damn @PimpJuice you used to move units like me and Em what happened
Had a spark when you started but now your accountant garbage
Call me on my global phone and I hook you up with my dude
He a beast at hula hooping through loopholes, working round ?
Only thing I need from you is a exclusive album for TIDAL. Might wanna call it Backwards Hustler
On another note this IC life done made your boy ambidextrous
Posting advice with my right, whippin white with my left wrissssst. Damn Daniel
Iight Ight I'm convinced this is a monizzle alias