Do you kids recall when I posted this Blind Item from the NY Post:
Which hip-hop artist drove up to his agent’s office in a $200,000 car, wearing a $50,000 wristwatch, to beg for money because he’s “dead broke” and needed $5,000 for child support? . . .
It turns out that the Blind Item might have been about rapper Bow Wow after all.
According to gossip website TMZ.com, the taxman cometh for both Bow Wow and singer Tionne “T-Boz” Watkins for unpaid taxes.
TMZ found documents filed in Florida by the federal government that says Weezy owes the government exactly $91,105.61 in unpaid taxes for the year 2006.
T-Boz’s tax troubles are a little more complicated.
TMZ says the 41-year-old mother of one owes creditors $768,642.99 — mostly from mortgages on her $1.2 million house located in a suburb of Atlanta.
So T-Boz did what many former nouveau riche celebrities do when they spend themselves into the poor house — she filed bankruptcy to shield her from her creditors.
But when you file for bankruptcy, you are required to open up your personal finances to ridicule and scorn. It seems that T-Boz, who once commanded hundreds of thousands of dollars in music royalties, now receives only $1,200 per month in royalties.
And the singer who once owned a string of children’s clothing boutiques, now brings in around $11,000 a month, with monthly expenses in excess of $8,821.
T-Boz is still struggling to collect over $250,000 in unpaid child support for her daughter by former rapper Mack 10, who hasn’t had a hit record in over a decade.
One thing these celebrities fail to realize is when you spend money like water, the well eventually runs dry.