Cincinnati Tax Resolution Powered by Toph Sheldon 9200 Montgomery Rd., Ste. 7B Cincinnati, OH 45242
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INSIDE 1
How Past Adversity Ignited Toph’s Passion to Help The Secret to Employee Engagement Toph Wins a Big Break for a Client on Appeal
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Fall Transitions at the Sheldon House Fennel Gratin
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Tax Debt Weighs Heavy on Ye’s Crumbling Empire
YE (AKA KANYE WEST) OWES $1 MILLION IN TAXES TOPH’S TAX NIGHTMARES
Some fading celebrities exit the spotlight quietly, like falling stars. The stunning downfall of Ye, the rapper formerly known as Kanye West, looks more like a jetliner crash. Ye and his companies owe a total of $1.06 million in back taxes, including numerous tax liens on his real estate and corporate assets, according to the U.S. Sun. The headquarters of his fashion brand, Yeezy, stands empty and roofless in Los Angeles. Forbes reported in 2022 that his net worth had plunged to $400 million from a reported $2 billion. His website is no longer taking orders.
They said, well, around $50 million,” Ye said on the podcast. He added, “So, now I’m having — I get to actually learn how to run a company. I get to learn how to, you know, to count, really. It’s like I didn’t even know where to put the money.” The rapper’s fortune plummeted after sponsor Adidas split with him in 2022, a breakup Ye claimed cost him $2 billion. Gap and Balenciaga followed suit by terminating their contracts with him. Ye’s erratic career has been scarred by his polarizing cultural and political commentary. He won 24 Grammies and became one of the world’s bestselling musical artists. However, Adidas terminated its relationship with him because of public outrage over his comment that slavery was “a choice,” antisemitic remarks and clothing art, and a history of playing pornographic videos in the presence of Adidas staff members. In 2023, he posted an apology to the Jewish community on Instagram. Ye is named in a stream of lawsuits from former employees alleging that he failed to pay them or harassed them on the job, the U.S. Sun reported, claims the rapper has denied. Even his lawyer is suing him, court papers show, claiming that Ye refused to speak to him or pay him for his services.
And the IRS is on his trail. The rapper told a right-wing podcaster late in 2022 that the IRS had put a $75 million hold on his accounts. He blamed his dilemma on “not being the most financially literate person
on the planet.” He added, “They said you owe a lot of
taxes. Took me, like, six hours to find out how much ‘a lot’ was.
PHOTO CREDIT: DAVID SHANKBONE
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