MC Hammer filed for bankruptcy back in 1996 and lost EVERYTHING, leaving him broke and without his most expensive possessions. While he paid his $7 million debts (including almost $2 million to the IRS) in 2007, turns out, the IRS wants more from him.
Hammer got out from under his debt by anteing up more than $7 mil in 2007, and that amount included more than $1.4 million to the IRS.
Now — 7 years later — hammer says Uncle Sam has just demanded another $1.4 mil — this time for penalties and interest on the delinquent 1996 taxes.
Hammer thinks it’s a travesty, and has filed legal docs asking a judge to block the IRS from collecting because of basic principles of fairness.
That is pretty messed up – the IRS will drain your ass DRY, though. Hopefully he doesn’t have to declare bankruptcy AGAIN – and he stays out of trouble, too, since he was arrested last year.