Jermaine Dupri Pays Off Massive Tax Debt


Hip-hop mogul Jermaine Dupri has been going through it, financially, over 2011 ... but with 2012 here, he's getting things in order. The 39-year-old rapper/producer is tax debt free after recently paying off a giant lien that came to nearly twice as much as he originally owed. Court documents, recently filed in Georgia, state that Dupri owed $493,818.75 in back taxes he failed to pay for the year 2007. However, the original principal was just $254,782.64. After tacking on interests and penalties, it got costly. He paid $91,721.75 in interest, a $64,969.57 penalty, a $82,294.79 collection fee, and an extra cost of $50. After forking over the money, Dupri is in good standing with his taxes. Dupri has had some other financial trouble in the past year. Back in May 2011, his Atlanta mansion nearly went up for auction after slipping into foreclosure. However, for reasons not revealed, the auction was called off last minute. Later in the year, Dupri's Lamborghini Murcielago was repossessed after his lenders said he was behind nearly $80,000 on payments. The lender sold it off for $115,000 and demanded that he pay back the debt he still owed on it.

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