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Tittle-Tattle Too™
Published: Oct 1, 2011
Willie Nelson Owed IRS $16.7 million; Released IRS Tapes
by Jim Brogan

(VIDEO) Back in 1990 country legend Willie Nelson owed the Internal Revenue Service (IRS) $16.7 million. Nelson released an album titled "The IRS Tapes: Who'll Buy My Memories?" to relieve his tax burden.

According the to IRS, the tax problems began for Nelson back in the late 1970s when he was living large. The IRS claimed that from 1978 to 1982 he did not pay $6.5 million in income taxes forcing the government agency to seize his bank accounts and real estate.

Add on $10.2 million in penalties and interest and you have a hefty sum.

Fortunately for Nelson, many of his fans bought his possessions from the estate sale and later returned them to him.

Willie later would release "Who'll Buy My Memories?." in conjunction with the IRS to help pay them what he owed.

Other Celebs Who Squandered Fortunes

Chris Mcalister: $55 Million Squandered

Burt Reynolds Bankruptcy 1996; Made $5 Million In Cannonball Run

Toni Braxton $50 million Bankruptcy in 1998

Heidi Montag ($65,000 Episode) Spencer Pratt Blew $10 Million

Scottie Pippen Lawsuit; $120 Million Squandered On Bad Ideas, Gulfstream II

Sarah Ferguson Money Problems: $750,000 Caught On Tape, Made $3 Million; Weight Watchers

Teresa Giudice $9 million Bankruptcy After $3,333 Episode?

Nicolas Cage Owed $14 Million in Taxes; $20 Million Paycheck For Gone in 60 Seconds

Mike Tyson Career $300 million; 2003 Bankruptcy $27 Million Debt, $34 million Debt 2005

MC Hammer 1996 Bankruptcy But Made $33 million in 1991 Selling 50 Million Records

Kim Basinger Paid $20 million For Braselton Georgia

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