Tom Hanks (left) and Bruce Springsteen
Kevin Mazur/Getty
April 29, 2017 12:19 PM

Bruce Springsteen is opening up about the financial missteps that landed him in hot water with the IRS.

During a candid talk with Tom Hanks during the Tribeca Film Festival on Friday, the 67-year-old singer opened up about the financial troubles he experienced early in his career.

“First of all, I never met anyone in New Jersey who paid any taxes! We never paid any taxes,” the New Jersey native said, adding that “the entire state wasn’t paying any taxes.”

“Then when we got with [manager] Mike Appel. He was handling all our business and his thing was, ‘We’re not paying any f—— taxes.’ So, years went by and … all of this time went by. Nobody’s paying taxes — me, the band, no one I know.”

The music legend said it was his 1975 Time magazine cover that caught the attention of the IRS.

“Finally, some guy at the IRS must’ve got smart and said, ‘Who is this guy on the cover of this magazine? Let’s see what he’s doing,’ ” Springsteen continued.

“They came after us and I had to work for a couple years for somebody else every night.”

WATCH: Bruce Springsteen Writes a Tardy Note for a 9-Year-Old Boy Who Came to His Concert!

The “Born to Run” singer said that along with evading taxes, he and his team “weren’t paying any bills either.”

“Then we had to pay lawyers,” he continued. “In 1980, I think I had about $20,000 to my name, which would’ve sounded like a lot of money when I was 20, when you’re 30?”

It seems the star has learned his lesson, though. As for his taxes today, Springsteen declared: “I pay ’em now.”

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