Music Producer Timbaland Drops $800,000 To Settle Tax Debt He Racked Up A Year Before Launching Verzuz
July 11 2021, Published 12:10 p.m. ET
Timbaland coughed up nearly a million dollars to settle a massive tax debt.
According to court documents obtained by RadarOnline.com, the Internal Revenue Service filed a release of a lien they filed in April.
The government had accused the music mogul of owing a total of $864,588.41.
The debt stemmed from an unpaid 2019 bill. Uncle Sam was even threatening to start seizing the producer’s property and assets if the money wasn’t turned over quickly.
In 2019, Timbaland had a relatively quiet year. He started teaching classes on music production through Masterclass.
He also produced a song for rapper Joyner Lucas. He hasn’t been business in the studio for several years. Timbaland made a comeback in 2020 after launching Verzuz with Swizz Beatz during the pandemic.
Verzuz started as an Instagram Live show where two well-known artists compete against each other by playing their greatest hits.
It became a hit almost immediately with millions of people tuning in to each event. The success lead to Triller purchasing a portion of the company from Timbaland and Swizz Beatz for an undisclosed amount of money. It is believed the deal is worth tens of millions.
The legendary producer has a long history of tax issues. Back in 2017, the producer (real name: Timothy Mosley) paid $3.8 million to handle debts with the IRS. Timbaland’s debt broke down to $117,230.19 ( 2012), $1,750,048.34 (2014), and $1,951,472.76 (2015).
Timbaland has been honest about his money issues in the past. He said told Rolling Stone his divorce and prescription pill problem were a recipe for disaster.
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“Music is a gift and curse. Once you’re not popping, it plays with your mind. The pills helped block out the noise – I’d just sleep all day. I remember Jay-Z told me one time, ‘Don’t do no more interviews’ – because I was saying crazy shit," he said.
Timbaland isn't the only musician dealing with tax issues. As RadarOnline.com first reported, rapper Lil Pump was hit with a lien over an alleged $90,000 debt with the government.
