The IRS Tapes: Who’ll Buy My Memories Case
Willie Nelson is one of the most renowned artists in country music, and he was known for music such as Stardust, Shotgun Willie, Red Headed Stranger and “We are the World” with Dionne Warwick. While famous for his music, Nelson made headlines when the IRS seized most of his assets and was dinged $16.7 million bills for back taxes from his album the Red-Headed Stranger.
SInger-songwriter Willie Nelson performs onstage with Willie Nelson and Family during the 45th Annual Willie Nelson 4th of July Picnic at Austin360 Amphitheater on July 4, 2018 in Austin, Texas. (Photo by Rick Kern/WireImag
It turned out that while Nelson had been on the road, his accountants hadn’t paid his taxes for many years and his situation worsens when Nelson made weak investments in the 1980s. His lawyer negotiated his case, and the charged was down to $6 million back taxes, which Nelson didn’t comply. Nevertheless, Nelson made a double album entitled, “The IRS Tapes: Who’ll Buy My Memories” with profits that went directly to the IRS. The IRS collected $3.6 million from the sales of the album and Nelson’s career skyrocketed and later on, he was able to pay off his debts.