“The debt only keeps on getting worse” Allen Iverson pays $600,000 to get out of trouble yet again
Follow Us
Allen Iverson
Allen Iverson is undoubtedly one of the greatest point guards to ever play the game of basketball. He was in the league for 14 seasons but unfortunately never ended up on the fortunate winning side of claiming an NBA title. But that doesn’t lower his greatness even a bit. He is a Hall of Famer, a legend of the game, has multiple individual awards and honors and has even made it to the NBA 75 list so doubting him for his greatness and heroics on the court is just senseless and foolish. But still, it’s fair to say that Allen Iverson fumbled the bag.
Allen Iverson late in his career when things weren’t the same for him which is very natural didn’t settle down as a role player but opted to retire instead. This took away millions of dollars from him. But again Allen Iverson is least worried about those as his career earnings were around $218 million. But he messed it all up and got into some financial and legal trouble and ended up losing most of it. He also got into trouble with the U.S Government with Tax related issues but after years of paying debt, it looks like he’s still yet to be free.
Allen Iverson pays $600,000 to the U.S government to get out of Tax Trouble
Allen Iverson was all over the internet in 2019 as he made it to the NBA headlines because of a Tax lien filed against him by the IRS. As per the report, A.I owed $616,068.60 to the government. He had to pay off $44,418.88 for 2010 and another whopping $571,649.72 for 2011. But it just didn’t end there as Iverson had dues pending for the year 2012 too. He owed $25,643.12 for 2012 and $174,465.25 bringing his total unpaid amount to $200,108.37. Further interest and penalties of $71,000 were charged too. He has paid around $600,000 in 2019 and is expected to clear his books for the remaining amount too.
All these numbers may claim Allen Iverson as broke or pretty bankrupt as his current listed net worth is just $1 million. But soon things are going to change for him. He already receives $96,000 annually from NBA as a pension. And, soon Reebok is going to give him the bag as promised. The contract between A.I and Reebok was for $800,000 a year for life and $32 million once he turns 55 in the year 2030. This time we hope he doesn’t mess it all up, does his taxes on time and spends it wisely as Reebok saved him this time but the future from 2030 will be completely unsecured.
Do follow us on Google News | Facebook | Instagram | Twitter
Stay Updated!
Ritik Malik
(1743 Articles Published)