Allen Iverson Allegedly Owes An Insane 6-Figure Amount In Back Taxes
Allen Iverson’s money troubles have been well documented since his playing days ended and they continue to get worse by the year.
Just months after he lost his third home to foreclosure, the Philadelphia 76ers legend is back in the news once again after the Georgia Department of Revenue recently hit him with a tax lien, claiming Iverson owes taxes for the years 2012-2013, according to the Blast.
“Iverson allegedly owes $25,643.12 from 2012 and $174,465.25 from 2013. The unpaid debt has swelled over the years with $44k in interest and $27k in penalties tacked on for not paying on time. All told, Iverson owes $200,108.37.”
Iverson’s money issue will end when he gets a $32 million trust fund that Reebok has for him that he can’t access until he turns 55 in 2030.
Unfortunately, he won’t get the full amount after he made an agreement with his wife Tawanna back in 2010, in hopes of keeping his marriage alive, that was centered around the trust fund.
The post-nuptial agreement states that Iverson agrees to forfeit all of the $32 million is he violates the following terms:
- Can not cheat or have children outside of marriage.
- No physical or verbal abuse.
- Must attend marriage counseling.
- Must speak to therapist about drinking and gambling problems.
- Can never gamble again.
- Must be home by midnight.
- Must discuss any purchases over $5K.
As you can tell, he did not live up to those terms and Tawanna re-filed the divorce petition and was awarded everything. Just before the divorce was set to become final, Tawanna had a change of heart and agreed to give Iverson half of the $32 million Reebok trust.