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INSIDE 1
Strategies to Lessen the Financial Famine
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The Gift of Giving
What Happens When You Negotiate With the IRS
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The Sheldons Give Thanks
The Best Leftover Turkey Sandwich
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Rapper Lil Wayne Racks Up a Massive Tax Bill
Toph’s Tax Nightmares
Lil Wayne Owes Big Money Up until this year, Dwayne Michael Carter Jr., better known as the rapper Lil Wayne, owed the IRS a whopping $14 million. In March 2019, it was revealed he had settled his tax debt with the IRS. Lil Wayne is worth an estimated $120 million, but it turned out the rapper had been skipping out on paying taxes. The IRS stated he owed over $7 million for the 2011 tax year and another $7 million for 2012. So, in 2014, the IRS placed a tax lien on the recording artist. But, thanks to a very good friend, that’s all in the past. In March, the rapper came out and said the tax debt was taken care of. But, despite his apparent net worth and income as a successful rapper, he wasn’t the one who paid down the debt. It seemed Lil Wayne had relied on another recording artist to help him with the debt: Jay-Z. Apparently, Jay-Z (Shawn Corey Carter) came to Lil Wayne’s aid. According to Lil Wayne, speaking to fans at a concert: “There are people like Jay-Z. He helped me when I was really, really, really down. Really, really, really down. Jay don’t want me to tell nobody. That man helped me with my taxes. He’s a real friend, y’all.”
the two rappers weren’t always friends. In fact, Lil Wayne and Jay-Z had been locked in a four-year feud, which started in 2009.
In what you might call a twist of irony, it was a feud that made these two rappers quite a bit of money. They both released several diss tracks targeting the other, and fans ate it up. However, it was clear the feud had come to an end when Lil Wayne partnered with Jay-Z in 2015 to release an album on the Tidal music streaming service, a service backed heavily by Jay-Z.
Just how much Jay-Z helped isn’t known, but Lil Wayne’s tax debt has been completely wiped out. Rap fans may find this story particularly interesting because
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