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“On November 9th, 1990, federal agents seized Nelson’s properties in six states and assets which included boxes of master tapes, touring equipment, gold and platinum records and clothes. The IRS, estimating a total tax debt of $32 million, alleged that much of his income was hidden in tax shelters – a result, the singer said, of mismanaged earnings and bad advice from his accountants. After seizing his assets, the IRS charged the entertainer with a debt of $16.7 million – a whopping $10.2 million of which was in interest and penalties alone.”
December 1, 2018 at 5:23 pm
Who doesn’t love Willie Nelson? This album must have been made during the time he owed the IRS a ton of back taxes. 😦
December 1, 2018 at 5:53 pm
Bob,
He did owe a slew of money, $16.7 million.
“On November 9th, 1990, federal agents seized Nelson’s properties in six states and assets which included boxes of master tapes, touring equipment, gold and platinum records and clothes. The IRS, estimating a total tax debt of $32 million, alleged that much of his income was hidden in tax shelters – a result, the singer said, of mismanaged earnings and bad advice from his accountants. After seizing his assets, the IRS charged the entertainer with a debt of $16.7 million – a whopping $10.2 million of which was in interest and penalties alone.”