News: Snoop Dogg Puts His Mind On The Money, Settles $476K Tax Debt
Friday, Sep 30, 2011 8:05AM
West Coast rap veteran Snoop Dogg can loosen up a bit more these days after recently settlng a nearly $500,000 tax debt to the Internal Revenue Service (IRS).
Although the new reports hit this week, Snoop cleared his debt tab around mid-September.
Rap superstar Snoop Dogg has settled an outstanding tax bill dating back to 2008. The "Drop It Like It's Hot" hitmaker, real name Calvin Broadus, Jr., was slapped with an invoice from the Internal Revenue Service (IRS) after failing to hand over $476,338. But the hip-hop icon is now in the clear - he paid the sum on Sept. 15. (Toronto Sun)
A few weeks ago, rap star Lil Wayne made headlines for settling a $5.6 million debt.
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)
Around July, reports landed online showing Roc-A-Fella Records co-founder Damon "Dame" Dash owed taxes.
Hip-hop tastemaker Damon Dash, the Roc-A-Fella Records and Rocawear Clothing exec, dashed from yet another tax bill, according to the feds. The IRS just filed a nearly $3 million tax lien against the music and fashion impresario. The bill adds to the 40-year-old Dash's notorious status among tax collectors. The IRS filed a $2,984,364 lien against Dash on June 30 with the New York City Register's Office. (Detroit News)
Dame later came forward and spoke on his debts.
"I owe way more than $2 million in taxes," Dame explained in an interview. "That must've just been the IRS -- Nah, nah, I'm f---ed up...It's the price of business; it is what it is. I owe taxes: I got to pay...They're auditing me. When you're a business man, you have a lot of businesses, a lot of times they think you're laundering money or you're pretending you're writing things off that you don't -- I'm a true businessman. As you know, I believe in my independence, I have no partners, so every dollar I make goes right back into every business I have." ("Sway In The Morning")
Check out some recent Snoop Dogg footage below: