- 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

Intro to different retirement accounts

What does it mean to have a 401(k)? IRA?

View Course »

Introduction to Preferred Shares

Learn the difference between preferred and common shares.

View Course »

TurboTax Articles

Ways To Increase Your Tax Refund You Never Thought About

Laying the groundwork for a tax refund requires some simple tax planning, a little research and some forethought. Reviewing your tax status, consulting your spouse when filling out your W-4s and taking advantage of several tax credits can help you increase your tax refund. TurboTax also can help decide which credits can get you the biggest refund.

What Extra Tax Deductions Should I Make Sure To Take?

The federal government offers tax deductions and credits to reduce taxable income under certain circumstances. There are several that are often overlooked, including deductions for job hunting, caregiver expenses for dependents and children while you work, a credit to reduce taxes for moderate- to low-income earners and the premium tax credit associated with the Affordable Care Act. TurboTax can help determine if you qualify for these credits and deductions.

8 Things You Think Are Tax Deductible That Aren't

There?s a fine line between looking to save money on your taxes and taking deductions that will raise eyebrows at the Internal Revenue Service. Some taxpayers are tripped up by expenses that they assume are tax deductions, but don?t qualify under IRS guidelines. Here are a dozen items that can lead to unpleasant surprises in case of an audit.

9 Things You Didn't Know Were Tax Deductions

Few realizations are more painful than realizing that you forgot to include a tax deduction that would have lowered your tax bill or increased your tax refund on your tax return. Here are some tax deductions that you shouldn't overlook.

Add a Comment

*0 / 3000 Character Maximum