Lil Kim Accused Of Owing $58,000 In Back Taxes
By Ryan Naumann on December 18, 2019 at 6:02 AM EST
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Rapper Lil Kim has been hit with a massive lien accusing her of owing close to $60,000 in back taxes, only months after her bankruptcy was closed.
According to court documents obtained by The Blast, the Internal Revenue Service (IRS) filed a federal tax lien against Lil Kim on December 3.
The document accuses Lil Kim of owing $58,227.40 stemming from a 2005 tax bill. The lien was filed against her Alpine, New Jersey mansion.
The IRS warns if the debt isn’t paid in full quickly, they will begin the process of seizing her property and assets.
The Blast
The financial trouble comes months after Lil Kim dismissed her Chapter 13 bankruptcy. Last year, the rapper filed for bankruptcy protection over $4 million owed to creditors.
She listed assets totaling $2,573,300 and liabilities in the amount of $4,084,841.60. She owed $1,845,451 in back taxes alone.
Her major assets included her $2.3 million New Jersey home, 2000 Mercedes Benz ($4,200), 2005 Bentley Continental GT ($52,600), $25k in household furniture, $5k in electronics, $5k in apparel, $25,000 in jewelry and her entertainment companies.
Her debts included $2 million owed on her New Jersey home, $1,469,105 owed to the IRS for unpaid taxes from 2004-2017, $376,346.74 owed to New Jersey for state taxes from 2004-2017 and $186k in unpaid legal bills.
The bankruptcy even revealed Lil Kim had to borrow $25,000 from friend Missy Elliot.
Back in July, Lil Kim went to court asking for the case to be dismissed. She revealed the purpose of the bankruptcy was to save her home from foreclosure. She was able to get her finances in shape and saved her home with a loan modification. Lil Kim said she no longer needed the bankruptcy to handle her finances.
The judge granted her motion and the case was officially closed.
Lil Kim does have good news with her showing off her new man The Great Leader on social media. She wrote, "@thegreat_leader you went to Atlanta and I went to New York. It’s only been 24-hours and I’m missing you already ? Well...guess I have to move to da A ??"
