It might be a good time for Lil Kim to hire some new accountants! The female emcee reportedly owes Uncle Sam $1,026,862.42 in back taxes.
According to a report from TMZ, the Queen Bee failed to pay taxes every year from 2002-2009. On a positive note, Kim is expected to release new music this year -- hopefully she'll be able to resolve the situation.
UPDATE: Lil Kim's publicist released this statement:
It is a known fact that for some time TMZ has been running stories on celebrities or well known persons of interest and providing the general public and media with publicly accessible information on random celebrities and their private matters with the internal revenue service,this does not come as a surprise, as it is Tax Season and is a sell-able media opportunity,it is for no other reason that Kimberly Jones(aka: Lil Kim) is now the target of such random media scrutiny.
As it pertains to the story that was run on TMZ (February 4,2012) regarding Lil Kim, we would like to inform fans,media, and the general public,that Lil Kim has hired professional attorneys to handle this matter (embellished by all standards via the media), and that she,along with her team of legal experts are working cooperatively and diligently with the I.R.S and federal authorities to amicably resolve the situation.