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During a livestream on January 12, Twitch star Matthew "Mizkif" revealed some financial details and claimed that he would have to pay $800,000 in taxes.
The conversation started when the streamer mentioned that he had hired a new accounting firm to review his financial situation. He went on to say that the firm told him to "be ready," saying that he "owed $400,000 more" come April 20, 2022.
The Austin, Texas-based content creator elaborated on the situation by saying:
"I'm kind of screwed. I don't really know what to do. I think I'm in way over my head at this point. I kind of f***ked up! I really don't know what to do."
Mizkif shares insights about allegedly owing $800,000 in taxes, says he might have to sell his collection
The discussion started at the one-hour mark of his January 12 broadcast, when Mizkif labeled January as the most depressing month of the year. He then revealed having a meeting with his tax team and stated:
"But you know what's even worse? To add on to my January dog s**t month? So I had a meeting, I had a tax team that was from, you know, I guess, Playmates Toys, for three years. And I didn't know that, apparently I didn't really meet with them too often, which is probably my fault. I guess?"
Mizkif claimed that the aforementioned firm did not work with Twitch streamers since they didn't understand the industry. This compelled him to hire a new accounting firm:
Apparently, they don't work with Twitch streamers. They don't understand this area of entertainment. They are much more your corporate accountants who understand a typical nine-to-five. So I went to a new accounting firm in this sphere."
The co-founder of One True King (OTK) stated that the new firm informed him he was "getting scammed" and owed more money in taxes:
"We went to them, and like, 'Hey. Like, what do you think of the money that we've saved.' And they're like, 'You're getting scammed.' And they told me that these people are doing a horrible job, apparently, in terms of overall stuff. They said that, 'I hope you're ready,' and I'm like, 'Ready for what?' They're like, 'You owe 400,000 more dollars come April 20th.'"
Timestamp: 01:00:50
Mizkif claimed that he recently paid the sum, to which the new firm replied:
"I'm like, 'I thought I just f***ing paid my taxes of $400,000!' They said, 'No, you owe more taxes now. You owe $800,000. So you in total have to pay 800 grand, $400,000 now, coming on April 20th.' I said, 'I can't do that. I have to have a gym with Knut and I have to move! There's no way I'm going to make that money!'"
Mizkif went on to say that he was "kind of screwed," adding that he didn't know what to do. He speculated that he might have to sell his collection of rare vintage games, saying:
"I might have to like, sell my boxes. I'm at that point! Like, I don't know! Either that or I can't sell Knut my house! Because I told Knut he can buy my house but I would do it in like a friendly way. I need the money! I just can't sell Knut my house and give him an only; take the $200k in the end. I need the money! I literally owe 400 grand in three months!"
Fans react to Mizkif's situation
The YouTube comments section featured a handful of fan replies and here's a snippet of some relevant ones:
While one viewer commented that Mizkif's situation appeared to be a "huge mismanagement of money," another stated that the streamer should have sold his collection of rare games when he received a $600,000 offer.
