NBA legend Allen Iverson dropped $600,000 to settle a massive back tax bill.
According to court documents obtained by The Blast, the IRS released a federal tax lien filed against Iverson.
The ex-NBA star was accused of owing a total of $616,068.60 in back taxes. The debt breakdown was $44,418.88 (2010) and $571,649.72 (2011).
The release means Uncle Sam considers the tax bill paid in full and no longer are attempting to collect. The lien will now be released from the property Iverson owns.
Back in September, Iverson was hit with a state tax lien by the Georgia Department of Revenue.
The lien accuses the NBA star of owing taxes for the same years, 2012 and 2013. The Department of Revenue says they are owed $25,643.12 (2012) and $174,465.25 (2013).
The grand total for the unpaid tax bill came to $200,108.37. The original debt swelled with $44,000 in interest and another $27,000 in late penalties.
Allen and his ex-wife Tawanna Iverson settled their nasty divorce in 2013. She walked away with a $3 million divorce payment.
In the divorce, it was revealed that the NBA star signed a lucrative deal with Reebook in 2001. The deal had provisions that put $32 million of his deal into a trust. Iverson can’t touch the money until he reaches the age of 55. The money can’t be used to pay off things like tax debt.
Iverson’s last year in the NBA was 2010. He made over $154 million during his NBA career. He recently signed on as a coach and player for the BIG3 basketball league.