I hear from people every week who think their tax problem is the end of the world. It usually isn't. I'm Darrin Mish. I've resolved over $100 million in tax debt for clients. Here's what you should know.<\/p>\n
Rapper Lil Wayne and boxer Floyd Mayweather Jr. are both in hot soup with the IRS. \u00a0Rapper Lil Wayne, whose real name is Dwayne M. Carter, is said to owe the IRS over $5.6 million in taxes for the years 2008 and 2009. \u00a0On the other hand, boxing great Mayweather Jr. owes the IRS $3.4 million from 2009, the year he came out of retirement to fight Juan Manuel M\u00e1rquez, a match with reportedly earned Mayweather Jr. a cool $25 million.
\nThis is not the first time Lil Wayne has gotten into the bad books of the IRS. Last year, the IRS filed a $1.1 million lien against him for taxes owed in 2004, 2005 and 2006<\/a>. This time, the IRS is after much larger amounts. \u00a0According to them, the rapper owes taxes amounting to $3,351,078 for 2008, and $2,258,956 for 2009. \u00a0The IRS filed a tax lien dated March 2 and listed Lil Wayne\u2019s main home in Miami Beach, Florida as the main address.
\nIronically, Lil Wayne put his home on the market for $13 million. \u00a0If he is successful, it would be more than enough to pay off his tax liabilities. \u00a0But if the rapper\u2019s own declaration is to be believed, he should have no problem paying up his outstanding tax bill. \u00a0He recently said he plans to make $50 million this year. \u00a0And that does not mean earning $50 million, it means banking $50 million.
\nBoxing champ Mayweather Jr. has a brag of his own, too. \u00a0He recently hyped about a $37,000 bet he won on a Chicago Bulls game. \u00a0But that won\u2019t be enough cancel the $3,359,279 lien the IRS gave to him in late January which it filed with the Clark County Recorder in Nevada.
\nBut there\u2019s another thing the rapper and boxer have in common. \u00a0Mayweather Jr. has also had past problems with the IRS. \u00a0Almost three years ago, Mayweather Jr. had to negotiate a payment plan with the IRS to pay off a bill for $6.1 million in unpaid income taxes.<\/p>\n