Breaking News: Aaron Carter's Manager Responds to Pop Star's Back Tax Lien

It was revealed in papers filed by the Internal Revenue Service that pop star Aaron Carter owes more than $1 million in back taxes. His manager reacts to this surfacing news, citing that the former "Dancing with the Stars" contestant's money was "mismanaged" when he was a minor. He turns 22 next month.

Manager Johnny Wright told ET in an exclusive statement, "It is unfortunate that while Aaron was a minor, his finances were grossly mismanaged by his previous team which has lead to the current situation of which he was unaware of until today. Aaron is working with a new team to take appropriate actions towards speedy resolution of the matter and looks forward to putting this behind him and moving forward with the next stage of his music career."

Keep checking back to ET online for updates on this story.