One of the enticing things about pop culture is that virtually anybody can find himself propelled into superstardom overnight, an especially common occurrence in the world of rap and hip-hop. The trouble is that very few aspiring rappers know how to handle their sudden riches—or are even aware they are legally required to pay taxes—and often wind up making poor decisions which land them in trouble with the IRS.
The latest rapper to fall into this trap, according to the Times Live, is Flo Rida (aka Tramar Dillard), who was recently handed a tax bill of a little over a million dollars by the IRS. The agency also slapped a lien on Flo Rida's southern Florida home, which the rapper purchased for $1.6 million in 2010, and are threatening to sell the 2.3-acre property out from under him in order to recoup the debt.
According to Times Live, Flo Rida has a history of poor money management and debt evasion. He was recently sued by the company which installed the security system of his Florida home, claiming he owes nearly $50,000 in payments and interest. Flo Rida, though, claims he never authorized the work. Could this be another case of an overnight rap star foolishly entrusting his finances to associates, rather than to an experienced accountant?
Are you an Oklahoma resident (and not necessarily a rap star) who has been handed a stiff back-tax bill by the IRS? Call the Oklahoma tax experts at Travis W. Watkins, PC (800-721-7054) for a free consultation today!