News: Young Buck Puts Price On IRS's Head
Friday, Oct 29, 2010 9:25AM
Southern rapper Young Buck is reportedly taking the Internal Revenue Service (IRS) to court with a lawsuit claiming the organization damaged his ability to make profits due to a publicized raid last summer.
According to reports, Buck is suing the IRS for an undetermined amount.
Young Buck is ready to fire back at the Internal Revenue Services. According to the local NBC affiliate in Nashville, WSMV-TV, Buck is suing the IRS over a raid of his property that occurred in August. The rapper is claiming the government's actions hindered his ability to make money and ultimately pay off the debts. An auction of Buck's seized property was scheduled for yesterday (October 28), but was reportedly canceled by the IRS. (XXL Mag)
Earlier this week, the IRS cancelled its scheduled auction of Buck's property.
The IRS was set to auction off thousands of dollars worth of music equipment, jewelry, paintings and other swag once owned by the Nashville-area rapper on Thursday. But his attorney filed suit this week to recover his property and stop the auction, saying that he would sell real estate worth $638,500 to begin repaying those taxes. Young Buck, whose real name is David Darnell Brown, owed the IRS more than $164,000 in income taxes, according to the government. (Tennessean News)
Buck also hit up Twitter to confirm that his items would not be auctioned off.
"Sorry PEOPLE. There will be no AUCTION of my STUFF tomorrow!! Lol!! TRY AGAIN," Buck tweeted this week. (Young Buck's Twitter)
Last weekend, G-Unit member Tony Yayo discussed Buck's financial woes.
"I feel sorry for the guy," Yayo said about Buck's financial woes. "It's tough times right now. They had plaques up there, they had plaques up there [at the auction.] I'm talking about the record label plaques. Yeah, they had everything up there. They said Omarion got a $100,000 [in tax debt]. I think it's about having the right people in your corner. One thing about G-Unit label, we always had accountants to take care of taxes. That's one thing I can say about 50 Cent, he taught us a lot. With the tax thing, I learned everything I know from having accountants on the G-Unit staff...50 does give you talks about your money and the right thing you should do with your money. And he keeps it real about it. Instead of buying a new car or chains, he might say to invest in something. That's the smartest thing to do for anybody to do in this industry...That's one thing Buck did have, 50 did guide us the right way. If you spend a $100,000 in a matter of weeks, of course a guy with intelligence that's your boss is gonna call you and say, 'Yo, you're spending a lot more money than I am and I have way more money than you.' I think that's what the issue comes down to..." (Shade 45)
Check out 50 Cent speaking on Young Buck down below:
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