Chris Tucker Settles Unresolved Tax Issue, Agrees to Pay IRS $3.58M
Actor Chris Tucker has resolved his lawsuit involving nearly $10 million in unpaid taxes.
According to Bloomberg, earlier this week, the “Rush Hour” star agreed to pay the IRS $3.58 million plus interest to cover unpaid federal income tax liabilities from 2002, 2006, 2008, and 2010. The government initially aimed to collect $9.68 million.
Tucker’s financial troubles date back over a decade. In 2014, the veteran entertainer settled a $14 million debt with the IRS after a lien was placed on one of his properties. Reps for the actor cited “poor accounting and business management.”
Seven years later, the actor faced financial difficulties again when the government sued him to recover back taxes from years when he filed his taxes late.
In 2010, 2011, and 2016, Tucker initiated discussions with the IRS regarding an installment payment plan. Under the proposed arrangement, he was expected to make payments ranging from $25,000 to $50,000 over ten years.
However, the agreement fell apart after it was determined that he couldn't settle the debt within the specified timeframe the agency is allowed to collect taxes for a given year.
Legal documents further revealed that Tucker failed to make payments during this period despite possessing “sufficient equity and cash to fully pay the taxes.”
