On October 27 the IRS will have an open house and a subsequent auction of Young Buck’s seized possessions the following day to repay over $164,000 in income taxes. The property was originally seized on August 2 during an FBI raid on Buck’s Sumner County, Tennessee home. Local newspaper The Tennessean gave a rundown of the merchandise expected to be available.
“Several gold and platinum records for his own work and collaborations with rapper 50 Cent, several pieces of fine art, multiple LCD and plasma televisions, designer watches and an assortment of faux-fur coats” will all be included in the lot.
Buck filed for bankruptcy, shortly after the raid in August. The auction will last from 8:00 a.m. until 10:00 a.m. October 28 at 5373 Mt. View Road in Antioch, Tennessee. Perspective buyers will only be able to make purchases via cash, certified check, money order, cashier’s or treasurer’s check. (October 14)
UPDATE: Late today, Young Buck’s attorney postponed the October 28 IRS seizures from the former G-Unit rapper’s house. Nashville newspaper The Tennessean reports that the rapper will sell real estate to the sum of approximately $635,000 to begin paying off tax debts.
Read the full story here.
UPDATE #2: Nashville, Tennessee’s NBC station WSMV-TV reports that Young Buck is suing the IRS. The reports state that Buck is citing the government agency for causing him to lose income and go further into debt. (October 31)
UPDATE #3: The IRS is disputing Young Buck’s suit terms. In a Wall Street Journal blog story yesterday, a spokesperson from the Internal Revenue Service noted that Buck is claiming suffering from threatened seizures of assets including figurines, a Tennessee Titans soda machine and video games.
HipHopDX will keep you updated.