While Allen Iverson is no longer electrifying fans on the NBA’s basketball courts, he’s still very much a notable figure within the sport. The former 76ers star made news recently due to tax troubles, and he’s currently knocked off one string of the debt after paying $600,000 to Uncle Sam.
The Blast exclusively reports:
According to court documents obtained by The Blast, the IRS released a federal tax lien filed against Iverson.
The ex-NBA star was accused of owing a total of $616,068.60 in back taxes. The debt breakdown was $44,418.88 (2010) and $571,649.72 (2011).
The release means Uncle Sam considers the tax bill paid in full and no longer are attempting to collect. The lien will now be released from the property Iverson owns.
Back in September, Iverson was hit with a state tax lien by the Georgia Department of Revenue.
The lien accuses the NBA star of owing taxes for the same years, 2012 and 2013. The Department of Revenue says they are owed $25,643.12 (2012) and $174,465.25 (2013).
The grand total for the unpaid tax bill came to $200,108.37. The original debt swelled with $44,000 in interest and another $27,000 in late penalties.
Iverson is currently back in basketball, this time as a player and coach in Ice Cube’s BIG3 league.
Allen Iverson Pays Off $600K In Back Taxes, Has Lien Lifted was originally published on hiphopwired.com