Young Buck's Tennessee home was just ransacked by several armed federal agents, TMZ has learned and it was all over $300,000 in allegedly unpaid taxes.

According to Young's rep, IRS agents rolled up to the platinum selling rapper's house in Nashville this morning to go on a repossession rampage over the alleged tax debt seizing assets like recording equipment, jewelry, furniture, his platinum wall plaques ... and even his kids' PlayStation.

The rep tells us, the feds in question were packing heat, in the form of a shotgun and warned Buck not to interfere with the raid.

As for how he fell so far behind in debt, the former G-Unit member tells us, "This IRS situation came about because I trusted accountants, lawyers, and managers to handle my business for me while I focused on making music. From now on, I am going to stay on top of my own business."