Earlier this month rapper Young Buck's home was raided by the IRS. Armed IRS agents seized everything; furniture, recording equipment, jewelry, platinum, wall plaques, and even his kid's PlayStation. Young Buck has more details on the vicious IRS seizure. Learn from Young Buck's mistakes and keep the IRS away from your assets!
In a recent interview with Vibe Young Buck describes the IRS raid:
I was sleep, man. It was like 6:30 am. They were probably thinking I was still living how I was back in the day, because they came with their guns out and everything. My past has already been out there, so maybe they thought I was up to no-good. If you coming just to serve some tax papers and take assets, then you wouldn’t have M-16s, 12 gauges, and glocks all out. They making it seem like it’s a drug raid.
When asked if he still owes the IRS $300K Young Buck replied:
I don’t owe no $300,000, they was telling me I only owe them $164,000. And they saying they were trying to create some communication with me for three years. But my accountant was 50 Cent’s accountant, my lawyer was hired through his lawyer, my manager was 50 cent’s best friend. So once I was actually pushed away from that crew—I had to reconstruct my circle of people that was handling my business, and I ended up catching the backlash of that with this whole tax situation. I’m not trying to blame anyone though, I accept full responsibility, but one plus one equals two.
Young Buck claims he didn't know the IRS way trying to communicate with him for years. Apparently after a split from his old record label he was not in touch with his accountant, lawyer, or manager. The perfect storm. It all proves that in order to prevent tax debt you need to be your own accountant. Sure, you can hire accountants, bookkeepers, agents, lawyers, and mangers, but at the end of the day who's tax debt will it be? Yours! Take responsibility.
Double check numbers, and most importantly, make sure your taxes are paid as a priority. After all, you don't want the IRS armed agents to kick in your store and start stealing your assets!