George Clinton, who was inducted into the Rock and Roll Hall of Fame in 1997

[The Streets Don't Love You Back]

George Clinton Owes The IRS Big Bucks
Added by blacklikemoi on June 5, 2012.
Saved under Black Celebrities, Black Money, Gossip
Tags: bankruptcy, George Clinton, music, TMZ

George Clinton, the master of P-Funk, has found himself in quite a bit of tax trouble. TMZ revealed that Clinton owes the feds a whopping $115,552.27.

Despite having a net worth of about $18 million, the funk crooner didn’t have the money to pay taxes for 2007 and 2008. Of course, the legend’s net worth isn’t exactly a great indication of his current financial status. Clinton has been falling behind on his taxes for some years and was even forced to file for bankruptcy back in 1984.

It was rumored that all his earnings from the music industry were mismanaged, which sent all his finances in a downward spiral. In 2007, the 70-year-old performer owed a total of $48,347.82. His debt for 2008 reached $67,204.45.

There were no tax exemptions available for Clinton, but if he doesn’t fork up the cash soon his property may be seized until he comes up with the funds.George Clinton, the master of P-Funk, has found himself in quite a bit of tax trouble. TMZ revealed that Clinton owes the feds a whopping $115,552.27.

Despite having a net worth of about $18 million, the funk crooner didn’t have the money to pay taxes for 2007 and 2008. Of course, the legend’s net worth isn’t exactly a great indication of his current financial status. Clinton has been falling behind on his taxes for some years and was even forced to file for bankruptcy back in 1984.

It was rumored that all his earnings from the music industry were mismanaged, which sent all his finances in a downward spiral. In 2007, the 70-year-old performer owed a total of $48,347.82. His debt for 2008 reached $67,204.45.

There were no tax exemptions available for Clinton, but if he doesn’t fork up the cash soon his property may be seized until he comes up with the funds.

George Clinton, who was inducted into the Rock and Roll Hall of Fame in 1997, currently resides in Tallahassee, Florida.