Timbaland was forced to settle a tax debt of almost $ 1 million.
Radar obtained court documents detailing the Internal Revenue Service filing a lien release starting in April and accusing the music producer of owing around $ 864,500 in unpaid taxes.
The post reported that Timbaland’s debt stemmed from an unpaid 2019 invoice. The federal government is said to have even started threatening to seize some of his property and assets if he did not pay them back immediately.
But it wasn’t the first time the producer, real name Timothy Mosley, had an altercation with Uncle Sam.
In 2017, he also faced tax problems forcing him to pay around $ 3.8 million in debt repayments.
Its tax debts break down as follows: $ 117,200 in 2012, $ 1,750,000 in 2014 and $ 1,951,400 in 2015.
Timbaland also admitted that he has had money issues in the past. He previously told Rolling Stone that his divorce and drug addiction contributed to the disaster.
“Music is a gift and a curse. Once you don’t break out, it plays with your mind. The pills helped block out the noise.”
“I slept all day. I remember Jay-Z once telling me, ‘Don’t do interviews anymore’ – because I was saying bullshit.”
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What is Timbaland doing today?
2019 has been a quiet year for the “The Way I Are” hitmaker. He just kept going, teaching music production classes.
But Timbaland has not stopped making music. He produced a song for rapper Joyner Lucas.
While he also hasn’t been in the studio for several years, he recently made his comeback last year by launching Verzuz with Swizz Beatz at the start of the pandemic.
Verzuz started out as a live Instagram show where trendy artists compete against each other performing their biggest hits.
The segment immediately started to become a hit that millions of people logged in to watch every event.
Later, success led Triller to purchase part of the company from Timbaland and Swizz Beats for an unknown amount. However, the deal is believed to be worth around a million double digits.
Timbaland net worth 2021
At the time of writing, Timbaland is said to have a net worth of $ 85 million, according to Wealthy Gorilla.
He first got his full credit in 1996 for Ginuwine’s album “Ginuwine..the Bachelor”, and went on to collaborate with Missy Elliot, Aaliyah and even Justin Timberlake.
He doesn’t just make and produce music, he also has a knack for the big screen.
He wrote and produced the original music for the show “Empire”.
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