Yolanda Adams IRS Investigation And Audit
Gospel singer Yolanda Adams is being investigated by the IRS.The Internal Revenue Service has asked a federal judge to force Adams to turn over documents after she failed to show up for an appointment yesterday to explain her financial affairs.According to reports:
The IRS prompted the investigation after a two million-dollar mortgage loan application came about.
According to filings, a 2005 application showed that Yolanda Adams earned more than $40,000 per month and listed that she had over $8 million dollars in assets which included a trust account holding more than $800,000, $4.9 million in other personal holdings and jewelry that was worth more than $1.5 million dollars. The application also stated she owned a Hummer and also a Lexus.
A Chase home loan application stated that the singer listed $3 million dollars in assets, a Range Rover and a Mercedes-Benz, and a business worth at least $1.5 million dollars. In addition, Yolanda Adams is stated to own a home that is worth more than $2 million dollars located in the Houston Royal Oaks Country Club subdivision.
Yolanda’s attorney, Ricky Anderson, states that he was unaware of the lawsuit and will not speak on the matter until he has spoken with his client who is currently on a gospel cruise in the Bahamas as a feature.
