Chris Tucker is allegedly finalizing his IRS tax debt with a settlement estimated to be worth $9 million.
Radar Online is reporting that the comedian-turned-actor is concluding his long-standing debt to the government with a settlement, according to court documents obtained.
Described to be “engaged in settlement discussions” between Tucker and the government, it was reported the arrangement will be updated by the court in two months.
Tucker has an estimated net worth of about $5 million.
Settling with the IRS
“[S]pecific terms are finalized, the amount of money at issue, in this case, means that the settlement will have to go to the Associate Attorney General of the U.S. Department of Justice for approval. Reaching a final settlement and obtaining approval could take longer than usual,” a representative of the IRS reportedly said on the record.
In November 2021, the IRS sued Tucker seeking $9.6 million in federal taxes, tax penalties and interest, USA Today reported.
According to Radar, Tucker sold his Georgia home and used the profits to pay the IRS in October 2020.
Not The First Time
This is not the first time Tucker settled with the IRS. In 2014, CNN reported that Tucker received a settlement of $2.5 million on his tax debt.
During that time, the actor was said to have owed between more than $11 million and $14 million, Fox News and Forbes reported, respectively.
Tucker is known for many classic 1990s movie roles, including the first “Friday” movie and the “Rush Hour” franchise.
In hindsight, Tucker should have been able to pay off his taxes: he made $20 million for “Rush Hour 2” in 2001 and $25 million for “Rush Hour 3” in 2007.
The most he was required to pay in taxes was a little more than $4 million in 2001 and $5 million in 2002, according to Fox.
However, the actor’s poor financial decisions are also part of his legacy as well; Tucker owed the IRS $11 million for unpaid taxes in 2001, 2002, 2004, and 2005.
Tucker also got divorced in 2003 from his ex-wife Azja Pryor. They share a child, a son named Destin Christopher, who was born in 1998. While it is not reported how much Tucker lost in the divorce, The Things claims the actor had to pay alimony and child support payments, leaving him in significant debt.