Xzibit is broke

[D1G1T4L]

Alvin Joiner, a.k.a. Xzibit, a.k.a. recursive Internet meme guy, owes nearly $1 million in delinquent federal taxes. His excuse for not paying them? The cancellation of Pimp My Ride. Seriously.

The rapper-turned-actor-turned-host-turned-tax-evader has declared bankruptcy twice since 2009 and had both bankruptcies dismissed according to Tax Watchdog. Halfway through last year he had assets of approximately $739,433 but owed more than $1.4 million.

His claim that cancellation of the show that made him famous is behind his financial problems doesn't appear to be entirely untrue, as his records indicate he made $497,175 for headlining Pimp My Ride in 2007 and the next year, after the show was canceled, only made a paltry $67,510.

The most interesting revelation from his tax records? He didn't own a car while hosting the show. He was leasing a 2006 Range Rover for $2,230 a month. Bad Xzibit, imagine what the guys in the shop could have done with a 1986 Range Rover you bought for $2,230.

[D1G1T4L]

It looks like Hollywood hasn’t been all that good to Mr. Xzibit. Though the rapper turned actor has gotten a few roles in feature films these past few years, it’s clear they’re not paying the bills because I just got word that Alvin’s home has gone into foreclosure.
Born Alvin Joiner, 34, Xzibit owes the IRS in back taxes totaling the sum of $501,840.
According to the Detroit News, the rapper’s debts breaks down as follows:
$205,485: The IRS filed a lien in this amount on Feb. 4 in the Los Angeles County Recorder of Deeds office.
$296,355: The IRS filed a lien in this amount on April 17, 2008, in Los Angeles County.
This recession is exposing everybodies Dirty Laundry. In a recent interview with Clay Cane over at BET.com , Alvin broke down the difference between music industry check versus Hollywood checks. Check an excerpt below:
You’ve achieved more mainstream success with movies and television rather than hip hop. Do you miss hip hop?
Damn! You officially kicking me out, my dude? [Laughs]
No, I’m not! [Laughs] You’ve just really done well with the films and television.
I love music. Music is the catalyst for why all of this stuff is working. It’s what I feel I communicate the best. Other people, they see the film and TV, but the music, for me, is important. It started when I was a child, I believed in it and there are certain things I feel like I have to accomplish in music. Just the drive and what needs to be said. I feel like I do have some records left in me. I have to get it done.
What is the difference between Hollywood and hip hop?
Man, where do I begin? [Laughs] Well, people can be punctual in hip hop but it’s a must in movies. You have to hit your marks, you have to hit your timing, you have to be where you need to be—you mean what you say, you say what you mean. In music, it’s a constant grind until you achieve a level of success, but in movies it’s different, it’s immediate. You don’t have to wait weeks and weeks and hope you get paid. You perform, you get what you negotiate, that’s it, you go home and it’s a wrap.
Clearly homie wasn’t negotiating enough coins, was he?

[DJ ACE CAPONE]

I just don't get why people that make all this money get into situations like thas. If you got money, stop buying all that damn jewelry and invest in property, businesses. Why would you lease a care for $2000+ a month, that is just stupid. Buy your house and don't take out a damn loan. If you supposed to be rich what do you need a loan for?

Any idiot know that taxes being paid is critical and if you owe that much I can't even imagine what the penalties are on that shit.

Niggas just don't know how to handle they money right.

[LukeCPT]

what the fuck kinda excuse is that ?
my show got cancelled so i'm not gonna pay my taxes.
you dumb muthafucker.

[MontrealCity's Most]

wow lol What a Moron.

[Anunikke]

I just don't get why people that make all this money get into situations like thas. If you got money, stop buying all that damn jewelry and invest in property, businesses. Why would you lease a care for $2000+ a month, that is just stupid. Buy your house and don't take out a damn loan. If you supposed to be rich what do you need a loan for?

Any idiot know that taxes being paid is critical and if you owe that much I can't even imagine what the penalties are on that shit.

Niggas just don't know how to handle they money right.

Don't know how it is over there in america but over here buying a house with a mortgage could get you some tax breaks that could save you allot of money on the actual purchase.

[DJ ACE CAPONE]

I just don't get why people that make all this money get into situations like thas. If you got money, stop buying all that damn jewelry and invest in property, businesses. Why would you lease a care for $2000+ a month, that is just stupid. Buy your house and don't take out a damn loan. If you supposed to be rich what do you need a loan for?

Any idiot know that taxes being paid is critical and if you owe that much I can't even imagine what the penalties are on that shit.

Niggas just don't know how to handle they money right.

Don't know how it is over there in america but over here buying a house with a mortgage could get you some tax breaks that could save you allot of money on the actual purchase.

They got that out here too. I don't get why these mofos get loans to buy a house. Buy that shit straight out, at least it will be yours, all you will have is property taxes and upkeep. Niggas be tryin to keep money in they pocket. Bad money management is a mofo.

[Muhfukka]

the game is next

[Action!]

game probably secure based on tours

[Muhfukka]

game probably secure based on tours

yeah in europe but that wont last forever

[Outlaw Tay 187]

Damn X...

[West Coast Veteran]

Restless is a classic.

[doggfather]

Restless is a classic.

No, at the speed of life, and 40 dayz are classics.

[Bch]

recessions a bitch, im not doubting dude invested and real estate and due to the volatile real estate market on that sub prime rate thing got screwed also and lost some of his homes..

its not like he cant get a job, dudes talented

[dubsmith_nz]

Guess he's got more reason than ever to drop that new album