Kanye West Says He Owes $50M In Taxes And IRS Has Frozen His Bank Accounts

Kanye West continues to get hit financially. Since the fallout from what has been deemed antisemitic remarks he made on social media and in interviews in October, he has taken one financial hit after another. His net worth dropped from billionaire status to an estimated $500 million after several corporations canceled partnerships they had with the hip-hop artist.

More fallout is expected from today’s (Dec. 1) tirade on conspiracy theorist Alex Jones’s podcast, “InfoWars,” during which Ye said, “Well, I see good things about Hitler,” West said, later adding: “Every human being has value that they brought to the table, especially Hitler.”

In a separate interview on a right-wing podcast called “Timcast IRL” on Nov. 28, West, who changed his name to Ye, claims he had $75 million in various banks and that the IRS has frozen those accounts. West, who later walked off the live interview when asked about antisemitism, said he had just learned he owed the IRS $50 million in back taxes and that the government is about to “put me in jail.”

West said his “finance people” informed him, “you’re going to have to pay a lot of taxes.”
“But I found out — Ok, so they froze, they put a $75 million hold on four of my accounts, and then they said, ‘You owe a lot of taxes.’ Took me like six hours to find out how much. A lot — was it — well, around $50 million,” West said.

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West previously accused Adidas of toying with his bank accounts and causing $75 million to be frozen.

On top of this, West has been hit with several lawsuits, over unpaid contract work, music samples, among other issues. In one lawsuit, a recording label sued West, alleging he violated the company’s copyright by knowingly sampling the song “South Bronx” by Boogie Down Productions on his song “Life of the Party.”

Ye also finally settled his divorce from ex-wife, Kim Kardashian. The former couple reached an agreement on custody and property issues. Each will get “equal access” to their four children: North, 9, Saint, who turns 7 next month, Chicago, 4, and Psalm, 3, according to People. They did have a prenup so assets were divided up accordingly. Neither party will get spousal support; Ye will pay $200,000 a month in child support and be responsible for half of the children’s educational and security expenses.

Rapper Kanye West speaks during a meeting in the Oval Office of the White House with President Donald Trump, Oct. 11, 2018, in Washington. (AP Photo/Evan Vucci, File)

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