Before storming off on Timcast IRL, the rapper revealed that he discovered he owed money to the IRS after a $75 million hold was placed on four of his accounts.
According to reports, West previously claimed adidas was responsible for the closure of his accounts at JPMorgan Chase.
“The reason why I’m announcing that I’m running for President is I want the FCC to look at my money. If the FCC was looking at my money, there would be a possibility that adidas wouldn’t have went into JP Morgan Chase and froze my account … and put a $75 million hold on four different accounts,” West said, according to RadarOnline.com.
Later, West discovered he owed so much money that he claims people were attempting to put him in jail.
“I’m talking about literally finding out that they were trying to put me in prison this morning,” West explained during the podcast.
West said his “finance people” informed him “you’re going to have to pay a lot of taxes.”
“But I found out — Ok, so they froze, they put a $75 million hold on four of my accounts and then they said, ‘You owe a lot of taxes.’ Took me like six hours to find out how much. A lot — was it — well, around $50 million,” West said.
West was concerned and shared he began reaching out to chief financial officers (CFOs) to see if not paying back his taxes would be considered tax evasion.