MC Hammer Reportedly Owes $700,000 in Unpaid Taxes
The taxes are reportedly from 1996 and 1997, a time when Hammer was famously struggling with debt. TMZ adds that the government could attempt to recoup some of the money Hammer owes by taking it from his future concert earnings. Hammer’s reps did not respond to calls from the gossip website.
Hammer was $13 million in debt in 1996 when he filed for bankruptcy, caused by lavish spending, shaky investments and bringing too many friends on his payroll. As he explained on ‘Behind the Music,’ “I had up to 200 and some employees at that particular time, so my monthly payroll was was over $500,000. So a lot of my money was spent on trying to build a business that was unsuccessful.”
Hammer was the king of rap in the early ’90s, earning three Grammy Awards, diamond status for ‘Please, Hammer, Don’t Hurt ‘Em,’ certifying sales of more than 10 million copies, and even his own Saturday morning cartoon show.