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Hammer finds himself in another financial pickle after failing to fork over some of the money still owed from his 1996 bankruptcy.
More than a decade after filing for bankruptcy, MC Hammer reportedly now owes the U.S. government $779,585 in back taxes and is being sued to recoup losses.
According to TMZ, Hammer mostly owes back taxes from his “most financially troubled years” - 1996 and 1997. The government demands that any concert earnings that Hammer makes must be automatically diverted to them.
Hammer, whose real name is Stanley Burrell, originally filed for bankruptcy in April 1996 after accruing $13 million in debt. He sold his mansion for a significantly slashed price and admitted to using up most of his $20 million fortune in 1997.
Source: hiphopdx.com
More than a decade after filing for bankruptcy, MC Hammer reportedly now owes the U.S. government $779,585 in back taxes and is being sued to recoup losses.
According to TMZ, Hammer mostly owes back taxes from his “most financially troubled years” - 1996 and 1997. The government demands that any concert earnings that Hammer makes must be automatically diverted to them.
Hammer, whose real name is Stanley Burrell, originally filed for bankruptcy in April 1996 after accruing $13 million in debt. He sold his mansion for a significantly slashed price and admitted to using up most of his $20 million fortune in 1997.
Source: hiphopdx.com