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Xzibit owes nearly $1 million in delinquent federal taxes. His excuse for not paying them? The cancellation of Pimp My Ride. The rapper 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.

@funkmasterflex

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.

DN

7 Comments

• On 12.30.10 Guillermo Cervano said:

  ARE YOU Serious right now?!…wow!!…damn, you never know when your 15mtn are gonna be up…you better manager your money correctly!!

• On 12.30.10 sicelo said:

  That’s hillarous I thought xzibit had paper!!! Guess you gotta ask dre for another hit man.

• On 12.30.10 BIGHURT143 said:

  All dem rides he pimped, X better repo sum and cash ‘em in. SUCKA!!!

• On 12.30.10 ivan said:

  he got on that bs and started blowing all his money if he knew he wasnt makin rap money he shoulda saved some of that cash

• On 12.30.10 Tres Jones said:

  Show was hilarious, he made that show. I am sure if he gets focused he can get back on top.

• On 12.30.10 iamlkm said:

  wtf happen to all that movie money xxx 2 the x files movies he better get on that grind again

• On 01.01.11 Codak said:

  This is a primary reason why the tax laws are garbage. You get punished for being successful. I bet you he falls with in the 200k to 250k bracket. You know your gonna get taxed to hell and back. How do you like the hope and change now?

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