(EXCLUSIVE) Nelly’s Tour Profits To Be Seized In Order To Pay Massive $2.5 Million Tax Debt

Nelly

Nelly

theJasmineBRAND.com exclusively reports, Nelly has been hit with more bad news of his massive $2.5 million tax debt, with a garnishment being issued to Ticketmaster to seize any and all money the rapper is owed from them for concerts they promoted.

Here’s the latest: The authorities are issuing a garnishment execution to Ticketmaster, in an attempt to seize any money Nelly is owed or will be owed in the future. The rapper currently has 4 dates on Ticketmaster’s website for upcoming performances, which clearly indicate that the Department of Revenue is attempting to seize any profits Nelly was supposed to receive for the shows.

Ticketmaster has yet to answer the garnishment execution aka respond with how much – if any – Nelly is owed from them for past or future work.

Last month, the IRS hit the rapper with a Federal Tax Lien accusing him of refusing to pay up on a $2.4 million bill. The lien is the first step in the process of seizing any assets & property he owns, to collect on the massive $2 million debt he owes.

Nelly Winterfest-the jasmine brand

Here’s the backstory: According to official records filed in Missouri, the Department of Revenue filed a lien against Nelly aka Cornell Haynes II accusing him of owing a total of $149,511.69 for unpaid taxes for the year 2013.

The lien explains that original amount due for the year was $113,533 but with interest ($7,590.94) and additional costs and fees ($28,383.25+) the amount has swelled to $150k.

The Department of Revenue filed suit earlier this year in an attempt to collect on the $150k, by garnishing his bank accounts to seize any money he had.

The Department fired off executions of garnishment to both the US Bancorp Investments Inc. and The Business Bank of St. Louis. The companies have yet to respond to the garnishment demands in which they will have to respond to the executions by handing over all money the rapper has in accounts with them.

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Authored by: Kellie Williams