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Toni Braxton Owes IRS and Fortune 500 Companies, Files Bankruptcy Again?!


Photo of singer Toni Braxton
Fourty-three year old Toni Braxton has once again filed for bankruptcy. Ms. Braxton also had to file bankruptcy in 1998 because of ‘money mismanagement.’ In that case, the I.R.S. (Internal Revenue Service) put a lien against her for $3.9 million. Two of her Grammy’s were priced to sell to pay off her creditors.

The beautiful singer and song writer/musician is once again filing Chapter 7 bankruptcy in California. The artist has sold over $40 million albums worldwide and sources say that Toni claims to owe between $10 million and $50 million in unpaid debts; when she is only worth about $1million-$10million.

TMZ reported that the artist owes: AT&T, The Four Seasons Hotel, Direct TV, Neiman Marcus, Tiffany & Co., ADT Security, American Express, Flamingo Las Vegas, Wells Fargo Bank (WOW), the I.R.S and others.

Let’s hope everything works out for Toni and she doesn’t have any more money “mismanagement.”

Photo of singer Toni Braxton

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