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At a time when Willie Nelson made an album just to pay off IRS debt

There is always an incentive for musicians to sell a lot of albums, but there was a whole new level of motivation for Willie Nelson to do it in 1992.

Two years earlier, the Internal Revenue Service seized Nelson’s assets after claiming he owed $ 16 million, leaving Nelson and his accountants to spend years without paying taxes.

Thus, the IRS entered into an agreement with Nelson and allowed him to record an album with the specific purpose of repaying his debt.

Nelson then recorded the album, “The IRS Tapes: Who’ll Buy My Memories”, a compilation of his previous hits.

The album included only Nelson and his guitar.

The original agreement from the IRS was for Nelson to sell four million copies of the album to pay off his debt, but only $ 3.6 million was raised in total from the album.

Eventually, Nelson paid the remaining $ 9 million he owed and his debt was settled.

“Mentally, it was a breeze,” Nelson told Rolling Stone in 1995. and require money. I appreciated that. “And we worked together and set a record.”

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This story was first published in 2019. It has been updated ever since.

At a time when Willie Nelson made an album just to pay off IRS debt

Source link At a time when Willie Nelson made an album just to pay off IRS debt

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