Lil Wayne’s ongoing tax troubles has reached an all-time high. The Young Money leader apparently owes a huge tax bill to the Internal Revenue Service.

According to Gossip Extra, Weezy owes $12,155,084.46 in back taxes dating back to 2011.

According to the lien filed with the Miami-Dade County Clerk of Court’s office, Wayne failed to pay $5.8 million in 2011 and $6.3 million in 2012.

If Wayne doesn’t cough up the dough, the IRS will seize his luxurious mansion in La Gorce Island, Fla., which is listed at $11.6 million in 2011. The nine bedroom home comes with a three-car garage and a three-bedroom guesthouse adjacent to a large swimming pool.

Wayne joins a list of rappers who have failed to pay their taxes. Fellow artists Lauryn Hill and Fat Joe both had to go to prison on tax-evasion charges.

So we are amazed that Weezy F. Baby is not facing any jail time for his delinquent tax bills. But we digress.

Meanwhile, Lil Wayne is set to release his Young Money compilation 'Rise of an Empire' on March 11.

If Wayne doesn’t handle his finances properly, he might have to change the name of his rap label from Young Money to Tax Money.

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