Jay Z has been lyrically none too kind towards MC Hammer’s financial struggle over the years but sadly, the IRS seems to agree.
They are saying the veteran rapper has to fork over $1.4M in interest and penalty fees for the previous $7M he shelled out to clear his infamous bankrupt scandal.
Reports TMZ:
MC Hammer says the IRS is shamefully out to get him … belatedly demanding penalties on taxes he fully paid 7 years ago.
Hammer famously went belly up in 1996 — declaring bankruptcy and in the process losing everything, including his master recordings and most worldly possession.
Hammer got out from under his debt by anteing up more than $7 mil in 2007, and that amount included more than $1.4 million to the IRS.
Now — 7 years later — hammer says Uncle Sam has just demanded another $1.4 mil — this time for penalties and interest on the delinquent 1996 taxes.
Hammer thinks it’s a travesty, and has filed legal docs asking a judge to block the IRS from collecting because of basic principles of fairness.
The IRS are Jedi masters of loopholes so Hammer and his legal team may have a tasking time trying to discredit that outstanding bill. Yet, Flo Rida just reached a settlement for his seven-figure lien so all hope isn’t lost for the former rap king.
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Photo: Instagram/MC Hammer
