Over the years, rapper MC Hammer has definitely had his share of financial woes. Now, it appears those complications still haven’t been completely resolved. It’s been over 10 years since the “U Can’t Touch This” rapper filed for bankruptcy.
After losing over $30 million due to his opulent lifestyle, excessive spending and massive employee payroll used to compensate more than 200 workers, one would assume that chapter in his life would be closed. Unfortunately, it’s been reported that Uncle Sam says otherwise.
According to TMZ, Hammer has been hit with the ‘back-tax blues’ like so many other celebrities. The IRS is accusing Hammer, whose real name is Stanley Kirk Burrell, and his wife Stephanie for eluding taxes on his 1996 and 1997 tax returns. The collective amount for both years comes to a staggering total of $798,033.48.
The odd part about the whole debacle is that by 1996, the height of Hammer’s career had already passed. Hammer’s 1995 release, “Straight to My Feet” with Deion Sanders only peaked at No. 57 on the Billboard charts. The release was actually the beginning of the steady sales decline.
However, Hammer still received a substantial return on royalties from his previous works which included albums like “Please Hammer, Don’t Hurt ‘Em,” and the ever-popular, “Too Legit To Quit”. Hammer has sold more than 50 million records world-wide.
So, one can only assume that the majority of the taxes owed are derived from profits garnered from previous works. But, now there’s one burning question left. How will he pay it all back?
It has also been reported that previsions have already been made for the IRS to recoup the funds. However, the method of return looks to be rather stifling for the former Death Row Records rapper. According to court documents, the government is garnishing the wages from Hammer’s current LLC. All profits from that LLC have been levied to pay down the astronomical tab.
Hopefully this will be the last of the Hammer’s financial woes so he can finally put it all behind him.