MC Hammer is known not only for his hit songs but also for his great rise and his horrible descent. When mentioning Hammer, it’s hard not to think about his financial blunder. Now, over a decade since that terrible situation he went through he must live it over again. He is said to owe the government $779,585 in back taxes and is now being sued so they will be able to collect their money.
According to TMZ, Hammer mostly owes back taxes from his “most financially troubled years” – 1996 and 1997.The government is now demanding that any earning made from show must now go directly to them in an effort to pay off his debts. In 1997 when his filing for bankruptcy went public Hammer admitted to being irresponsible with his money. He also combated the public’s thoughts about how he spends his money by saying:
“I didn’t just take money and say, ‘I want to be a blessing to myself,’” he said. “I took my money and employed 200 people in my community. I had a payroll of a million dollars a month at times.”
I hope that Hammer can get his finances in order.Tags: Bankrupt, government, MC Hammer, Sued, TMZ