Ok, so you owe more than $500,000 in back taxes and you’re about to lose your Woodland Hills home… what do you do? You party your ass off of course, DUH!

It’s been reported that X owes at least $21,403.98 in back mortgage payments. He has been officially warned by the bank of the imminent foreclosure. In addition, it was reported last week that the IRS filed a $205,485 lien on X in L.A.County for non-payment of his 2007 taxes, and yet another one for an additional $296,355 for 2006.

Xzibit is chased down by IRS

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