Rapper No Longer In Debt To The IRS
Nas started 2017 off virtually debt free after he finally ponied up millions for old tax debts to Uncle Sam.
The veteran Queens rapper has shelled out more than $3.5 million in back taxes after the IRS accused him of not paying federal income taxes from 2006 through 2010. The feds said Nas owed $804,782 for 2006, $1,779,453 for 2007 and $615,600 from income he made in 2008. And in 2010, the IRS said he failed to pay $339,005, for a grand total of $3,538,900.
The father of two – who is set to headline Rolling Stone Magazine’s concert in Houston in February – quietly paid the debt to the U.S. Treasury and the Internal Revenue Service last month, according to public records obtained by BOSSIP. It’s not clear why the “If I Ruled The World” rapper allowed the tax debts to languish for so long.
During the period in question, he released his ninth studio album, which was untitled, as well as a collaboration album with Damian “Jr. Gong” Marley, the proceeds from which were donated to charity.
The IRS has the ability to seize debtor’s assets or garnish their wages if they don’t pay, and even if the debtor files for bankruptcy, they’ll still have to pay the back tax.
However, Nas isn’t totally off the hook when it comes to his tax issues. He still owes nearly $426,000 to the state of Georgia on income he earned in 2007. That amount includes a nearly $60,000 penalty, more than $57,000 in interest and a nearly $71,000 “collection fee.”
Hit the flip to check out the rest of Nas’ paperwork: