Yesterday I told you that the IRS may be looking into that $1 million birthday gift Lil’ Wayne received from his mentor/daddy Birdman, aka Baby.
Well, Myra Panache agreed with us:
Sandra Rose was right when she reported that the IRS would be inquiring about the $1 million dollars in cash (above) that rapper Lil Wayne received from Baby during his birthday celebration. IRS officials are reportedly not only looking into this but they are also investigating celebrities who don’t report club appearance fees that can range from $1,500-$10,000 per night.
What Lil’ Wayne probably doesn’t know yet is that a cash gift over a certain dollar amount is considered taxable income.
So if Weezy is in the 30% tax bracket, he owes the IRS at least $300,000 in taxes on that “gift”.
Will Uncle Sam come knocking on Weezy’s door for his share of Weezy’s million-dollar “gift”? As Sarah Palin would say, you bet’cha! 
I wouldn’t be surprised if Weezy claims this was all a publicity stunt and the money went back to it’s rightful owner.
Remember when Oprah gave away those cars on her show? Well, the audience members ended up owing the IRS $6,000 in taxes on each car. Those audience members who couldn’t afford to pay the taxes were forced to sell their cars.
Oprah, who lost touch with reality a long time ago, assumed that her audience members were affluent enough to afford the taxes. Bless her heart.
Oh, and that cash you see rappers stacking in music videos and movies is fake. The US Gov. doesn’t allow real money to be photographed or filmed.
