News: MC Hammer Addresses $700K Tax Debt Reports
Wednesday, Dec 14, 2011 9:56AM
Rap veteran MC Hammer has responded to this week's reports claiming he is experiencing financial woes and owes over $700,000 in taxes.
Hopping on Twitter, Hammer assurred fans he has paid the outstanding debt.
"700k ... Don't get too excited .. I paid them already and kept my receipt. Stamped by a US Federal Judge.," he tweeted December 12th. (MC Hammer's Twitter)
Earlier this week, reports claimed Hammer's tax debt dated back to the 1990's.
The U.S. government isn't letting MC Hammer off the hook for the $779,585 it claims the rapper owes in back taxes -- and has now filed a lawsuit against the rapper and his wife ... to recoup its losses. According to the docs, obtained by TMZ, the back taxes are from Hammer's most financially troubled years -- 1996 and 1997 -- and Uncle Sam wants the money back stat, demanding any concert earnings Hammer makes be automatically redirected into the government's pocket. Hammer -- real name Stanley Burrell -- filed for bankruptcy in 1996, after burying himself in $13 million of debt. (TMZ)
Around the mid-1990's, the West Coast rapper's money woes were exposed.
In 1996, Hammerfiled for bankruptcy, his taste for luxury having gotten the better of his dwindling income; his mansion was sold at a fraction of its cost. The crisis prompted a religious reawakening, and he began to write new material with an emphasis on spirituality and family. (All Music)
Outside of financial talk, Hammer made headlines in October for his involvement in a new online search engine.
On stage at the conference Mr. Hammer announced a new Web service called WireDoo: a search engine that adds relationship information to search results. For example, if someone searches for the word "car" on WireDoo, they will see results for topics related to a car, including insurance, pricing and consumer safety ratings. Searching a stock symbol will show related investors and mutual funds. Mr. Hammer said WireDoo, which is currently still being built and not available to the public, is not trying to compete with established search giants like Google, but hopes to offer a "deeper type of search" that can show relationships to queries. (New York Times)
Check out some past MC Hammer footage below: