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In a concerning update, it has been reported that Britney Spears has spent most of her grand showbiz fortune amid financial troubles.
As the IRS claimed that the Criminal singer owes $600,000 in back taxes and penalties, her inner circle fears she might end up totally broke and even homeless unless she finds a way for a cash flow.
"People around Britney are seriously alarmed because this isn't just about one tax bill or a bad month," shared a source to the RadarOnline.
They added, "The money has been flying out of the door for a long time, and it's finally catching up with her."
However, the insider revealed that if anyone advises Britney on the financial woes, she "acts like they're crazy to worry that she'll ever run out of cash."
The outlet reported that she spends thousands on a private plan to travel to Mexico and blows money on room service, spa treatments and shopping sprees.
Moreover, Britney has continued to live a luxurious lifestyle alongside taking care of "all her so-called friends who never seem to leave."
"She's pulled millions from pension and savings accounts, borrowed against the house, and piled up debts that still haven't been settled," said the source.
While the 44-year-old has disputed the figure presented by the IRS, it's been a huge wake-up call to people around her because it's exposed how dire her financial situation actually is, according to the source.
Britney is expected to get a chunk of money from the biopic being adapted from her memoir, The Woman in Me; however, that won't come close to covering what she owes.
