12 celebrities who went bankrupt
Willie Nelson, $32 million
Country singer Willie Nelson thought of his assets seizure as a way to pare down. In the 1980s, he banked his wealth in a tax shelter, but the IRS didn't take kindly to those back then. The government took his Texas ranch, among other things, in payment for a record-breaking
$32 million in unpaid taxes. Like a true country artist, Nelson turned to music to express his woes — and, with approval from the IRS, to fundraise — in his album "The IRS Tapes," which people could have bought by
dialing 800-IRS-TAPE. He also sued his accounting firm, and they settled.