Toni Braxton is at the center of yet another financial ordeal. This time, Toni’s having a problem with the Department of Internal Revenue Service (IRS). According to The Blast, ‘Uncle Sam’ claims Toni B. owes hundreds of thousands of dollars and now he’s lookin’ to collect.
She Owes HOW MUCH?!!:
It has been reported that court documents have offered a detailed breakdown of the taxes owed and penalties Toni Braxton is currently facing. Toni reportedly owes the state of California and the federal government a combined $780,808.29 for the 2015 and 2016 tax years.
Check out the financial breakdown with the exact numbers Toni reportedly owes in back taxes:
State of Californa
2015: $113,500.93
2016: $116,870.07Federal
2015: $310,223.28
2016: $240,214.01
Since Toni finally seemed to be recovering from her last bankruptcy, the latest tax liens are quite disheartening to hear about.
Past Bankruptcies:
Over the years, Toni Braxton has definitely had her share of financial trouble. The latest news follows Toni’s years of battling bankruptcies. For those who don’t know, the Grammy Award-winning singer filed bankruptcy in 1998 and again in 2010. Back in 1998, Toni spoke publicly about her bankruptcy when she appeared on “The Oprah Winfrey Show.” When asked what led to her downward spiral, she broke it down and explained how financial advances from her record label led to many different conflicts. In 2012, Toni revealed she’d only received a royalty check of $1,972.00 for her first album despite the project selling more than 5 million copies in the United States and more than 10 million units worldwide. Record label advances reportedly ate up most of the earnings from that album.
Toni also revealed how her lavish spending habits also contributed to the problem. “I love dishes and house things, so I kind of lost it a little bit on the houseware,” she said, adding that she fell in love with “girly things” like plates, Faberge eggs, and 1,000 thread-count sheets. “That’s what I indulged in. I loved that part of it,” she said. “I’m a little odd.”
Even Oprah was shocked to hear some of the things Toni said at the time. In fact, years later, Toni admitted she felt Oprah was very mean to her during that interview. “She was so frickin’ mean to me, I was in shock,” Braxton recounted in a taped segment for the music series, “Behind the Music.” “I couldn’t believe it because I loved her so much…She pretty much reprimanded me.”
Check out the memorable interview:
https://www.youtube.com/watch?v=ftLjr4CQcrQ
Years after that interview, Toni and Oprah managed to squash the beef.
Unexpected Financial Problems:
After filing for bankruptcy in the late 90s, it took Toni Braxton a couple years to bounce back but through it all, she managed to move forward. However, the stable moment was short-lived and it actually had very little to do with spending habits. The second time around, Toni’s health was a big part of the issue. Toni had secured a deal to do shows in Vegas, but her health forced her to cancel many of the shows. Unfortunately for Toni, contractual agreements led to lawsuits from vendors. Just one month after renewing the contracts, she fell ill.
“The doctors told me I would never be able to perform. They said, one or two songs, here and there, occasionally,” she recalled. “The Vegas show, I just renewed all my contracts with all my vendors, and then a month later I got sick,” she said. “Because you’re supposed to be smarter. People expect for you to be smarter,” Braxton said.
The lawsuits from the contractors forced Toni to file bankruptcy yet again. Hopefully, the latest situation she’s facing will be resolved soon, so Uncle Sam doesn’t swarm through Toni’s house and jack everything except the four walls, air mattresses, and a can of sardines. Y’all know the IRS does NOT play! Seriously though, wishing Toni B. all the best, she’s a strong woman, so if anyone can pull through this, it would certainly be soon-to-be Mrs. Toni Braxton-“Respeck on my name”-Williams.
