Chris Tucker, Rob Lowe do battle with taxman | AccountingWEB

Chris Tucker, Rob Lowe do battle with taxman

Right about now, Rush Hour star Chris Tucker might be feeling a bit of a squeeze in the form of a federal tax bill for nearly $12 million. And, chances are, he’s still reeling from last year’s pinch from Arnold Schwarzenegger, which seems small in comparison.

In late July, the Internal Revenue Service filed a lien against Tucker for back taxes amounting to $11,571,909.26. The unpaid taxes relate to Tucker’s income earned in 2001-2002 and 2004-2006.
 
The state of California, just over a year ago, beat the IRS to the punch by filing a claim against Tucker in a Sacramento County Court for $3,594,409 relating to unpaid state taxes for income earned during those same years.
 
How will Tucker pay the combined tax bite of more than $15 million? Right now he is hoping to sell his mansion in Florida to help make payment. But, at today’s prices, it won’t begin to cover the debt. The 8,861-square-foot faux Tuscan home in Monteverde, an upscale suburb of Orlando, sits on an acre of land. Tucker bought the home in 2007 for $6 million. Today he’s trying to sell it for the bargain-basement price of $2 million.
 
Tucker also owns property in California, including a 6,300-square-foot mansion in the exclusive Mulholland Park gated community in Tarzana.
 
Not long ago, Tucker was one of Hollywood’s highest paid comedians. In 2001, he earned $20 million for his role in Rush Hour 2, and in 2007, he earned another $25 million for Rush Hour 3. The 38-year-old Atlanta native also has appeared in Dead Presidents and Money Talks.
 
Tucker’s tax bill might be much larger than most, but he shouldn’t feel alone. A long list of fellow celebrities, athletes, and musical artists also are in trouble. In early July, Rob Lowe joined that list.
 
On July 9th, the IRS filed a lien for $269,956 against Lowe and his wife, Sheryl Berkoff. The lien was filed with the Recorder of Deeds in Montgomery County, Ohio. The couple also owes back taxes from 2008.
 
“I checked with my client and he knows nothing whatsoever about this and has not been contacted by anyone in reference to this matter,” Alan Nierob, Lowe’s publicist, told The Detroit News.
 
Lowe, who starred in The West Wing TV series, is trying to purchase Miramax Films, according to The Detroit News.
 
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