Sources close to Mystikal said that his "release" status is correct, but that it is related to a federal misdemeanor tax conviction last year.
Mystikal is serving the time after pleading guilty to extortion and sexual battery charges.
The charges stem from an incident in which the 36-year-old rapper forced a woman to perform oral sex on camera, after he caught her writing $80,000 in bogus checks.
Yesterday (Jan. 25), a representative with the FBP confirmed with AllHipHop.com that Mystikal was "released," after serving one year concurrently, after he was convicted in Jan. of 2006 for two misdemeanor tax violations.
He was sentenced to the additional year for failing to report almost $2 million in earnings from 1998-1999.
Jive Records released Mystikal's best selling album to date, 2000's Let's Get Ready.
The album spawned the No. 1 singles "Danger" and "Shake Ya Ass."
Mystikal remains a hot commodity. As news of he his alleged release started to spread last week, radio stations in the South began reporting the news.
Representatives for the rapper said they have been bombarded with phone calls for show and interview requests.