Entertainment
IRS Freezes Ye’s Bank Accounts Over Unpaid Taxes
Ye reportedly owes about $50 million in overdue taxes.
Ye, the artist previously recognized as Kanye West, has encountered a series of setbacks recently due to controversies that have caused him to lose money and influence. With questionable choices and criticized statements leading to partnerships dissolving and opportunities vanishing, Ye’s wealth has declined to approximately $400 million, a significant drop from his previous successes. However, it appears that he is now facing the possibility of losing a substantial amount of money to the IRS.
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During an interview on the conservative podcast Timcast IRL, Ye revealed that the IRS had frozen his bank accounts. He stated, “I discovered this morning that they were attempting to incarcerate me. They have placed a hold of $75 million on four of my accounts. They informed me about the owed taxes, which took me about six hours to ascertain the exact amount, around $50 million.”
Confessing that he is “clearly not the most financially savvy individual,” Ye consulted the “various CFOs” of his business ventures to assess the possibility of facing charges for intentional tax evasion.
Ye States The IRS Froze $75 Million Of His Assets Due To $50 Million Debt https://t.co/gU8PVrulx1
— USA Noise (@usanoise) November 29, 2022
“Now I have the opportunity to learn the ropes of running a company. I have the chance to understand financial management,” Ye expressed, further noting, “It’s like I was lost on where to allocate the funds.”
The IRS has not publicly acknowledged the situation, citing the confidentiality of an individual’s tax affairs.
