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MC Hammer Pays Off Financial Debt to IRS

by Jake Crates December 12th, 2011 @ 5:23pm
MC Hammer

(AllHipHop News) Oakland bred rapper MC Hammer is reportedly being sued by the United States Government for $779,585 in back taxes owed from his earnings.

The money in contention dates back to 1996 to 1997, during the years in which Hammer was believed to be facing his worst financial problems, since he filed for bankruptcy in 1996.

But according to Hammer, he’s already taken care of the debt.

The rapper took to Twitter to assure fans and naysayers, that has proof that he took care of his debt with the IRS.

“700k … Don’t get too excited .. I paid them already and kept my receipt. Stamped by a US Federal Judge,” Hammer Tweeted from his Twitter account @MCHammer.

Despite his bankruptcy claim in 1996 due to $13 million worth of debt, just half a decade earlier in 1991, Forbes Magazine had estimated the rapper’s net worth at over $33 million dollars.

Hammer, who is known for his hit songs “U Can’t Touch This” and “Too Legit to Quit,” admittedly mismanaged his finances during that period.

“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.”

  • http://thewordeyeheard.com/2011/12/12/too-legit-to-quit-mc-hammer-pays-off-irs-debt/ Too Legit to Quit! MC Hammer Pays Off IRS Debt! | The Word Eye Heard

    [...] AllHipHop: Oakland bred rapper MC Hammer is reportedly being sued by the United States Government for [...]

  • http://business-guide-2011.info/business-finance-guide/financial-advices/mc-hammer-pays-off-financial-debt-to-irs MC Hammer Pays Off Financial Debt to IRS | BUSINESS GUIDE BLOG

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  • http://www.listalista.se/wp/blog/2011/12/12/mc-hammer-pays-off-financial-debt-to-irs/ MC Hammer Pays Off Financial Debt to IRS | Music

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  • http://www.advices-finance.info/finance/financial-services/mc-hammer-pays-off-financial-debt-to-irs MC Hammer Pays Off Financial Debt to IRS – ADVICES FINANCE – ADVICES FINANCE

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  • http://wearerap.com/news-mc-hammer-pays-off-financial-debt-to-irs/ [News] MC Hammer Pays Off Financial Debt to IRS | WeAreRap.com

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    [...] Filed under: Headlines, News Tagged: MC Hammer Element 9 Hip-Hop News Pipeline [...]

  • http://myblockradio.net/?p=290 MC Hammer Pays Off Financial Debt to IRS |

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  • http://www.strictlyhiphopnews.com/2011/12/13/mc-hammer-pays-off-financial-debt-to-irs/ MC Hammer Pays Off Financial Debt to IRS | Strictly Hip-Hop News | The Hip-Hop community….

    [...] Filed under: Headlines, News Tagged: MC Hammer Original source: Click to read full story. AllHipHop.com [...]

  • http://www.aux.tv/2011/12/mc-hammer-says-hes-finally-paid-of-his-debts-the-us-government-begs-to-differ/ MC Hammer says he’s finally paid of his debts, the US Government begs to differ | New Music

    [...] with money. He famously declared bankruptcy in the mid-90s after falling $13 million in debt. AllHipHop reports that these back taxes owed are from around that time. blog comments powered by [...]

  • http://hiphopartist.info/?p=3148 hiphop » MC Hammer Denies New IRS Debt Rumors Via Twitter – This Beat Goes

    [...] $700000 MC Hammer for unpaid taxesDigitalJournal.comMc Hammer Pays Tax BillContactmusic.comAllHipHop -Celebrity Dirty Laundry -Huffington Postall 44 news [...]

  • http://dontfeartheestablishment.wordpress.com/2012/03/15/hammer-pays-off-debt/ hammer pays off debt | don,t fear the establishment

    [...] hammer pays off debt [...]

  • http://pepedilorenzo.wordpress.com/2012/10/15/biography-m-c-hammer/ Biography M.C. Hammer « Place2link

    [...] In December 2011, it was reported that Hammer owed the Internal Revenue Service $779,585 in back taxes from his earnings dating back to 1996 to 1997, during the years Hammer was believed to be facing his worst financial problems. After years of public and media ridicule regarding his finances, Hammer assured fans and ‘naysayers’ via Twitter, that he had proof he already took care of his debt with the IRS. “700k … Don’t get too excited .. I paid them already and kept my receipt. Stamped by a US Federal Judge”, Hammer Tweeted from his account @MCHammer.[18] [...]

  • http://freebeacon.com/here-comes-the-hammer/ M.Cm Hammer addresses U.S. Conference of Mayors | Washington Free Beacon

    [...] appeared to be back on his feet by 2011—even paying off a $700,000 back tax bill according to his Twitter account—so perhaps there is no more fitting expert to address the [...]

  • http://allmoneyia.com/?p=148 Music stars who have lost millions – ALL Money in America | U.S. Money News, World Money, Tech, Business, Financing, Market, Stocks, Sports Money, Entrepreneur, Rich, Wealthy

    [...] more than that amount in custom features. To be fair, many of his expenses were from employing people from the neighborhood, but within six years of his hip-hop album being certified diamond — a first — a different kind [...]

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