Over the last few years, many celebrities have spend time in jail due to failure to pay taxes. When a have large sums of money they need to make sure that bills are paid.
According to TMZ
The Feds sued Hammer, née Stanley K. Burrell, and his wife Stephanie … accusing them of stiffing the IRS to the tune of $798,033.48 on his ’96 and ’97 income taxes.
Mind you, Hammer’s heyday was in the rear view mirror at that point — he released a greatest hits album in ’96, and after that … well, let’s just say there were zero pumps or bumps.
And get this … according to the docs, every red cent Hammer’s LLC earns from now on has to go directly to the U.S. treasury to pay down his tab.
Mc Hammer went to Twitter to state that he do not owe the IRS anything and has been paid. I guess we will see how this all plays out.
@Mchammer 700k … Don’t get too excited .. I paid them already and kept my receipt. Stamped by a US Federal Judge