Lil Wayne reportedly pays off colossal $14 million tax debt
Weezy is now in the clear with Uncle Sam.
As The Notorious B.I.G. famously declared back in 1997 on his posthumous track: “Mo Money, Mo Problems.” However, while Lil Wayne has learned that lesson the hard way when it comes to managing his money, it appears as though now the rapper is in the clear financially.
According to documents obtained by The Blast on Friday (March 29), the Young Money rapper recently took care of business, reportedly dishing out a cool $14 million to settle his outstanding tax bill.
As previously reported, the IRS had accused Lil Wayne of owning several massive debts, including $7,341,399.07 for the year 2011 and $6,853,545.77 for the year 2012. He was officially hit with a lien in 2014 and now, years later, is reportedly all caught up to date with his owed payments.
Recently, the New Orleans native revealed how JAY-Z had stepped in to help with his taxes, thanking the music mogul for caring about his financial woes and helping teach him the ways.
“There’s people like Jay-Z—he helped me out when I was really, really, really down. Really, really, really down,” Wayne told fans attending a concert of his in Chicago back in December 2018. “Jay don’t want me to tell nobody. That man helped me with my taxes. He’s a real friend y’all. Shout out my n—a Jay!”
While Lil Wayne is all caught up with his federal tax debt, the legendary rapper is still awaiting the outcome of a series of pending lawsuits.
The rapper previously decided to sue his former lawyer for $20 million (claiming the attorney had been overcharging him for over a decade) and the company Moments in Time (expressing that he is the rightful owner of an old rhyme book of his they have begun auctioning off for $250,000).
In 2018, after years of ongoing tension between him and Birdman, the pair successfully settled their legal battle surrounding Wayne’s record deal with Cash Money. As a result of the long awaited settlement, Lil Wayne received an eight-figure payout from Universal Music Group and was able to release Tha Carter V through Universal.