The internal Revenue Services (IRS) is reportedly investigating R&B singer/radio host Yolanda Adams. She was ordered by a federal judge to turn over her financial records for 2000, 2001, 2003 and 2004, after failing to show up for an appointment last month to clarify her financial affairs. The agency is trying to sort out her tax liability and how to collect on the debt. According to filings in Houston federal court, two million-dollar mortgage loan applications precipitated the investigation. The Houston Chronicle reveals that a 2005 Ocwen application said Adams earned $40,000 a month and listed $8 million in assets, along with an $800,000 trust account, $4.9 million in other personal holdings and jewelry valued at $1.5 million. The document also states she claims ownership of a Lexus and a Hummer. A subsequent Chase home loan application listed $3 million in assets, including a business worth $1.5 million, a Mercedes-Benz and a Range Rover. The singer also reportedly owns a home worth more than $2 million in Houston’s Royal Oaks Country Club subdivision. The agency also wants details about her endorsements and royalties as well as music companies and foundations with whom she is affiliated. Adamsâ lawyer, Houston entertainment lawyer Ricky Anderson, said Wednesday that he was unaware of the lawsuit and declined to comment until he could look at the IRS filings and reach Adams, who is headlining on a gospel cruise to the Bahamas this week.
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