Rick Ross responded to allegations that he owes an estimated $5.7 million in back taxes. The rapper/business mogul blamed his financial issues on an “incorrect filing” dating back to the 2012 tax year.
“I am fully aware of my current dealings with the IRS,” Ross said in a statement. “This issue arose from an incorrect filing by a prior accountant for the 2012 tax year. My new team of accountants have corrected the prior filing, and as anyone who has dealt with the IRS understands, it is a process. We have already satisfied a large portion of these issues and I can assure you that we are working very closely with the IRS to bring a full resolution shortly and will continue moving forward in a positive direction!”
“I’ve been fortunate enough to experience financial success on a large scale through both my music career and my many business ventures,” he added. “With this type of financial success comes financial responsibility. As artists we are blessed to be able to make money, but on the same note, are held accountable for our federal tax obligations just like everyone else.”
TMZ broke news of Ross’ financial troubles Tuesday. According to legal documents obtained by the site, the rapper owed over $4.6 million for 2012 and around $570,000 for both 2013 and 2014.
Ross released his last album, Black Market, in 2015, but he’s remained active throughout the year. He recently released the Soundcloud track “No U-Turns,” teamed with the Lox for their song “Feel My Pain,” added a boastful spin to Solange’s “Cranes in the Sky” and united with Skrillex for the Suicide Squad collaboration “Purple Lamborghini.”