News: Lil Wayne's Got Young Moula For Uncle Sam, Pays Back $5.6 Mil

Saturday, Sep 10, 2011 4:09PM

Written by Cyrus Langhorne

Grammy-winning rapper Lil Wayne has reason to breathe a bit easier these days as new reports claim the Young Money leader finally cleared up a $5.6 million tax debt.

According to reports, Wayne recently cleared his federal debt, which dated back three years.

The rapper is in the clear after taking care of a tax bill from 2008 and 2009 for $5.6 million. Officials at the Internal Revenue Service (IRS) served Wayne with a demand for income taxes relating from 2008 and 2009 in March. But according to an IRS document, the lien has now been released after the "Lollipop" hitmaker paid off his debt. (KSN News)

Weezy's financial problems initially emerged online over the spring.

As reported by Riptide (via Detroit News) in April, the Young Money Maniac slipped up on his 2008 and 2009 taxes, "forgetting" to pay the Internal Revenue Service a grand total of $5,601,033.99. (And that's after he had already paid off a $1.13 million in December 2010.) The result: A federally levied lien against his "nine-bedroom, nine-bath, 15,000-square-foot pad on La Gorce Island." (Miami New Times)

Last June, the rapper also had a million dollar tax lien filed against him.

Lil Wayne owes some serious cash money to the IRS, which filed a $1.13 million tax lien against the star last month, according toFlorida court records. The IRS filed a $1,138,760 lien against Carter on June 3 in Dade County (Fla.) Circuit Court. According to the lien, which you can see here, he owes income taxes from 2004, 2005 and 2007. The address on the lien is the same office occupied by his One Family Foundation charity. (Detroit News)

However, later reports showed Wayne paid off the debt in late November 2010.

Weezy can breathe a bit easier. Hip hop star Lil Wayne (real name Dwayne Carter), who is pulling for the Green Bay Packers in tonight's Super Bowl, recently paid off a $1.13 million IRS tax lien. "I certify that the following-named taxpayer, under the requirements of section 6325 (a) of the Internal Revenue Code has satisfied the taxes listed below and all statutory additions. Therefore, the lien provided by Code section 6321 for these taxes and additions has been released." (Detroit News)

Check out some recent Lil Wayne footage below:

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