Young Buck Talks Tax Situation, Denies Suing IRS
While talking with Tim Westwood of BBC 1Xtra, Young Buck summed up his 2010 as “having my ups and my downs.”
It was a fitting description, as this calendar year saw the man who brought Nashville, Tennessee to prominence in the Hip Hop community release the Back On My Buck Shit Vol. 2 mixtape that was embraced by critics and fans, yet also become the target of an IRS raid. During the interview, Buck explained how his financial situation turned sour so quickly.
“My manager at the time was Sha Money XL, who was the president of the company,” Buck said. “My accountant was 50 [Cent]’s accountant, and even my lawyer was in the camp. When my removal from G-Unit came, I was left to put everything in my own hands. Throughout these years I been pushing my line and everything was handled for me, and by the time everything was turned over to me it was a mess.”
The “mess” Buck described was a total of $300,000 allegedly owed to the IRS. The ousted G-Unit emcee found his home raided by the IRS, who had plans to auction off his wares until Buck was able to reach an agreement. As for reports that he plans to sue the IRS, Buck cleared things up and explained how he’s dealt with once being a platinum-selling artist on a major label to his forced return back to the indie circuit.
“It’s hard to kind of negotiate with them,” he added. “They’re looking at it as three years of, ‘We’re reaching out to you and you’re not paying us our money.’ [They’re] not basically understanding I really wasn’t in control of my own situation. It’s just about that part of the fight right now and getting that understood so I can at least know that I’m paying the correct amount that they’re looking for. It’s a lot of stuff in the media saying I’m suing the IRS, and that’s not true. For me all my life, it ain’t been hard to get money. I may say it’s been hard to maintain the money. I learned from my mistakes.”