Lil Wayne is having some minor problems with the IRS, apparently he owes $5 million in taxes… actually if you want to get specific, it’s $5,610,034!

Even though Wayne just paid off a $1.3 million lien, he still owes this new that breaks down as $3,335,077.95 for revenue earned in the year 2008, and $2,258,956.04 for 2009.

Weezy is currently selling his 15,000 square foot mansion in Miami Beach for $12.9, meaning he will have over half of that money left over for another house once he’s done with the government! Here is a photo below:

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Lil Wayne was just released from jail a couple months back and had a massive party to celebrate his release. We know Lil Wayne is getting paid if he can afford to party like that, so we decided to take a look at Lil Wayne’s net worth.

Lil Wayne, now 28, joined Cash Money Records at 9 years old… so he’s been in the game a long time. In 1999, Lil Wayne made his debut as a solo artist and his record, “The Block is Hot” sold over 2 million units. Weezy was listed 4th on the Forbes 2010 Hip-Hop Cash Kings list at $20 million in earnings, which includes profits from sale and licensing of master recordings, concerts, tour merchandise sales, endorsements and songwriting.

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Lil Wayne is out of jail, but he learned a lot while there.. Serious stuff, like how to play UNO. He says:

“I’d bust a n—a’s a– at UNO. We gamble for phone time. I’d take n—a’s commissary: Lemme get them cookies, lemme get them chips, get that soup.”

Luckily Weezy is out of jail now and could buy up the Campbells soup company if he wanted to.

Wayne also talked about being celibate in jail and that was the hardest part. He says:

‘Anyone starts looking good in that b****, like ‘Damn, look at HER with that uniform on, Mrs Officer!’’

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Lil Wayne got hit with a paternity suit while in Rikers, this according to TMZ:

Weezy — who’s already fathered 4 kids that he’s aware of — allegedly sired another child back in 2002 … and now the 8-year-old’s grandmother obtained a court order requiring Wayne to submit to a DNA test

Crazy! Why wait until he’s in jail.. he can’t take a paternity test in jail! Also the mother was not a part of the suit which is a little shady.

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More details about Lil Wayne’s release from jail party on Sunday night in Miami are coming out. TMZ reports the party was at King of Diamonds strip club in Miami and 48 champagne bottles had already been paid in full for the event!

Mack Maine told MTV News, “It’s going to be crazy. It’s going to be real elegant, extravagant. We gonna party like when Frank [Sinatra] came home, like [the movie] ‘King of New York. It should be a lot of beautiful women, just … beautiful scenery. Just treat him like a king, like the royalty that he is, and make him feel like we really missed him, and welcome him back to the family.”

Now that’s how we thought Weezy would do it!

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How did Weezy celebrate his release? Cigar and a smoke. Nice. Welcome home Weezy!

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Weezy is almost free! His release from Rikers is scheduled in two days from now.

Lil Wayne wrote his final letter to his fans thanking them for support. He writes, “The very first day that I received mail, it was about 300 pieces or more! I smiled like a child of Christmas. But when I began to read them, my heart smiled. I laughed with some of you, reasoned with some of you, and even cried with some of you. I responded to as many of you that time would allow. I plan to keep reading and responding after my release. I thank you all for being so very supportive, as I never imagined how much impact my words and life can have. With this knowledge, I vow to continue to be me! For you have assured time that I don’t have to change for no one but God. I will be the same Martian I was when I left, just better.”

See you on Thursday Weezy!

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Lil Wayne and Young Money are about to debut a credit card.. a prepaid card actually. Young Money says eventually every star will have their own; a pink one for Nicki Minaj, black cards for Lil Wayne and Drake, etc. They say it should be out even as soon as the end of the week.

Black Enterprise breaks down how a prepaid card can be a little dangerous for folks who don’t know how these cards work… usually they are geared towards people with no credit or bad credit.

Rushcard vs. Typical Bank Card

Activation Fee: Rushcard = $19.95, Typical Bank Card = Free

Convenience Fee: Rushcard = $1.00, Typical Bank Card = Free

ATM Cash Withdrawal: Rushcard = $1.95, Typical Bank Card = Free (at Branch)

ATM Balance Inquiry: Rushcard = $.50, Typical Bank Card = Free

Bill Payment: Rushcard = $1.00, Typical Bank Card = Free

Inactivity: Rushcard = $2.95, Typical Bank Card = Free

Refund of Rushcard/Bank Card via Check: Rushcard = $5.00, Typical Bank Card=Free

So any of you wanting that new Wayne card.. be sure what you are getting yourself into!

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Lil Wayne has been put in solitary confinement on Rikers where he is currently serving his jail sentence for gun possession since March.

Guards found headphones and an MP3 player charger in his cell and another inmate was thought to be holding the MP3 player.

Weezy did have a private cell, but now he is in solitary 23 hours of the day with only 1 hour of rec time and one personal call a week.

You can’t take music away from Weezy!

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Lil Wayne and Young Money Touring Inc. are suing their former booking agent Ujaama Talent Agency Inc. For $375,000.  He’s worked with them on four different tours and is owed money from his America’s Most Wanted Music Festival.  A dispute broke out between them in the fall of 2009, which happened right around the same time Weezy pleaded guilty for gun possession charges in October 09.  Lil Wayne never received payment so is suing for the money he is owed from the tour.  It’s good to see him suing someone for a change instead of being the one sued.

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