Steve Harvey’s $20 Million Income Tax Debt Now Appears Tiny in Comparison to His Net Worth

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Steve Harvey is one of today’s most popular celebrities. From hosting gigs to his view on Loris’ connection with Michael B Jordan, he is constantly in the news.

He just admitted to owing the IRS (Internal Revenue Service) a whooping $20 million through no fault of his own.

Despite the fact that the unforeseeable occurrence had a significant influence on him shortly after his marriage to Majorie, Steve’s net worth has increased dramatically over the years.

Are you curious as to how he ended up in that situation? Let us explain!

 

STEVE HARVEY OWE THE IRS OVER $20 MILLION.

In an interview, Steve described how he got into issue with the IRS after his accountant died.

“My accountant died, and an accountant who worked with him called my lawyer and said, ‘We have an issue,'” he explained. She had discovered on the floor all of my tax papers for the previous seven years, signed and stapled with the checks.”

 

IRS & Steve Harvey

 

“They were cashing checks, retaining the money, and not submitting tax forms….

They didn’t cash it; instead, they grabbed the money from the account that matched the exact figure,” he added.

That got Steve in hot water, and he was ordered to pay a hefty $20 million.

 

HOW DID HE GET RID OF THE TAX DEBT?

Steve told Yahoo! in 2016 that he found out how much he owed the IRS when he was going to marry Majorie.

“I sat my wife down and she wept, and I embraced her and assured her it was all going to be well; I was going to get us out,” he explained.

He was determined to repay it, even if it meant working multiple jobs.

“I simply went to work.” I grabbed every job and contract that came my way, and I worked and worked. I persisted, until in 2012, a large transaction came through, and I was set free. “And it’s been fine ever since,” Steve explained.

 

HOW MUCH IS HIS NET WORTH IN 2022?

According to Celebrity Net Worth, Steve has a net worth of $200 million. That makes his old debt look insignificant.

The famous host reportedly earns $45 million a year in pay alone.

His comic career lasted 27 years. In 2012, he gave his final stand-up performance at the MGM Grand in Las Vegas.

He became more well-known as a television host than as a comedian. Steve rose to prominence as the host of Family Feud and its spinoff show Celebrity Family Feud.

 

ALSO READ:-

How to File Taxes on Self-employment! Latest Updates!

Prepare for Tax Success in 2022 With These Ten Proactive Steps.

IRS Will Face Processing Backlogs and Employment Delays in 2021.

 

Steve not only received Emmy nominations in 2013 for Outstanding Talk Show Host and Outstanding Game Show Host Daytime, but he also received a star on the Hollywood Walk of Fame.

He has properties in several cities, including Atlanta, Texas, and Chicago.

In other developments, Howard Schultz’s net worth has been revealed as the founder of Starbucks returns as CEO.

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