Ye reportedly owes about $50 million in unpaid taxes.

Ye, the artist once known as Kanye West, has been facing financial challenges recently due to controversies impacting his finances and reputation. His net worth has dropped to approximately $400 million amid criticized decisions and statements leading to lost partnerships and diminished opportunities.

It appears that Ye is now facing another significant financial hit as the IRS has taken action against him.

In a podcast interview on Timcast IRL, Ye disclosed that the IRS had frozen multiple bank accounts, revealing, “I found out they were attempting to incarcerate me this morning. They put a $75 million hold on four of my accounts and claimed I owe a substantial amount in taxes, around $50 million.”

Candidly admitting his lack of financial expertise, Ye consulted with the CFOs of his business ventures to understand potential repercussions for possible tax evasion.

Ye expressed his current learning curve, saying, “I now have the opportunity to understand how to manage a company and grasp the fundamentals of accounting. I was clueless about managing finances.”

The IRS has not publicly commented on the situation, citing privacy regulations regarding individuals’ tax affairs.