- Days left

Rapper Nas owes the Feds big

Hip Hop is DeadControversial rapper Nas has another battle to fight these days. In addition to a very public divorce with soon to be ex-Kelis, Nas has landed himself in hot water with the IRS.

Nas, who has already been ordered to pay Kelis $44,000 per month in child and spousal support, plus attorney's fees and other costs, has apparently not been making payments to the IRS. The result, according to gossip site, TMZ, is that a federal tax lien has been filed against Nas for an astonishing $2,584,206.31. Reportedly, Nas, born Nasir bin Olu Dara Jones, has not paid his federal income taxes for 2006 and 2007.
Those years were good for Nas on the career front. After ending his highly publicized feud with Jay-Z, Nas went on to sign a label deal with Jay-Z's Def Jam Records in 2006. His first album with Def Jam, Hip Hop Is Dead, featured work from will.i.am, Kanye West and Dr. Dre and debuted at No. 1 on the Billboard 200 chart. The following year, Nas released a greatest hits compilation and began talks for a merchandising deal with Fila, which he landed in 2008.

His success did not go unnoticed, at least by the IRS. A tax lien gives the IRS a legal claim to a taxpayer's property as security for an existing tax debt. Prior to filing a lien, there's an assessment of tax liability. The IRS then sends a demand notice for payment. If payment isn't made in full, a lien will be filed and becomes a matter of public record.

As of today, Nas has not released a statement regarding the tax liens or expected payments.

Increase your money and finance knowledge from home

How Financial Planners go Grocery Shopping

Learn to shop smart and save.

View Course »

Banking Services 101

Understand your bank's services, and how to get the most from them

View Course »

TurboTax Articles

2014 Tax Forms for Federal and State Taxes

TurboTax software programs include the tax forms you're likely to need to file your federal and state taxes. And the great thing is they guide you through your tax return so you don't need to know which tax forms to file.You can also find all federal forms and state tax forms at the links below.

What is a 1098-C: Contributions of Motor Vehicles, Boats and Airplanes

When you donate a vehicle to charity, you may be able to deduct it as a charitable contribution if you itemize your deductions. Soon after donating a vehicle, boat or airplane, the charitable organization may send you a Form 1098-C that reports details about the donation that may impact your deduction. In some cases, the Internal Revenue Service may deny your deduction without Form 1098-C attached to your return, so keep it in a safe place.

Add a Comment

*0 / 3000 Character Maximum