‘The debt keeps getting worse’ Allen Iverson pays $600,000 to get out of trouble » FirstSportz

Allen Iverson is undoubtedly one of the greatest point guards to ever play basketball. He was in the league for 14 seasons but unfortunately was never on the lucky winning side and clinched an NBA title. But that doesn’t detract from its size one bit. He’s a Hall of Famer, a legend of the game, has multiple individual awards and honors, and even made the NBA 75 list, so doubting him for his size and on-court exploits is just pointless and foolish . But still, it’s fair to say that Allen Iverson fiddled with the bag.

Allen Iverson late in his career when things weren’t the same for him, which is very natural, he didn’t settle into roleplaying, choosing instead to retire. This has cost him millions of dollars. But again, Allen Iverson is the least concerned as his career earnings have hovered around $218 million. But he screwed everything up and got into financial and legal troubles and ended up losing most of it. He’s also gotten into trouble with the US government over tax matters, but after years of paying off debts, it looks like he’s still free.

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Allen Iverson pays US government $600,000 to get out of tax problems

Allen Iverson was all over the internet in 2019 when he made NBA headlines over a tax lien filed against him by the IRS. According to the report, AI owed the government $616,068.60. 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 also had outstanding contributions for 2012. He owed $25,643.12 for 2012 and $174,465.25, bringing his total unpaid to $200,108.37. Additional interest and penalties totaling $71,000 were also levied. He paid around $600,000 in 2019 and is expected to clean up the balance as well.

All those numbers could mark Allen Iverson as broke or pretty much bankrupt as his current net worth is just $1 million. But soon something will change for him. He already receives $96,000 a year as a pension from the NBA. And soon, as promised, Reebok will give him the bag. The deal between AI and Reebok was for $800,000 a year for life and $32 million when he turns 55 in 2030. This time we hope he doesn’t screw things up, pays his taxes on time and spends it as wisely as Reebok saved him this time, but the future from 2030 onwards will be completely uncertain.

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