Cincinnati Tax Resolution Powered by Toph Sheldon 9200 Montgomery Rd., Ste. 7B Cincinnati, OH 45242
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INSIDE
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Running on Empty, Powered by Love
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Cutting-Edge Lawns Toph Wins Jaw-Dropping Settlement for Trucker Letting Go: Ashley’s Shift to Simpler Parenting BLT Chopped Salad
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Former Sitcom Star Faces IRS Showdown
No Laughing Matter: A Sitcom Star’s Battle With the IRS TOPH’S TAX NIGHTMARES
One thing taxpayers can always count on is that you can’t count on the IRS to behave in a predictable way. As Toph writes on Page 2 of this edition, you can never know what the agency might do. Take, for example, Charlie Sheen’s torturous seven-year battle over his tax debt of nearly $7 million for 2015, 2017, and 2018. Taxpayers with substantial assets often try to reach a settlement with the IRS but wind up on an installment plan instead. In Sheen’s case, however, neither strategy seemed to be working. Under an installment plan, the IRS declared he could afford an eye-popping $51,275 a month, even though he was deep in debt and out of work at the time. And when Sheen offered to settle the debt for $1.24 million, the IRS claimed he could afford to pay 3–4 times more. One of the many sticking points in the battle was Sheen’s Beverly Hills home, which he listed for sale in 2018 for $10 million. The oceanfront estate finally sold for $6.6 million in 2020. His battle with the IRS was one of many setbacks for Sheen. Once the highest-paid actor in television, he co-starred in the hit TV series “Two and a Half Men” from 2003–2011 but was fired from the show in 2011 because
of his erratic behavior. From 2012–2014, he starred in another series, “Anger Management.” Married and divorced three times, Sheen was in and out of rehab, and in 2015, disclosed that he had been diagnosed with HIV.
A few years later, Sheen’s attorney wrested a $3.1-million deal from the IRS to settle
his debt. But in another surprise, the IRS’s Los Angeles area director abruptly rejected the deal, without explanation or any opportunity to appeal. The actor sued, alleging violation of mandated procedures. After another flurry of court filings, Sheen in 2022 finally won IRS approval to settle his entire debt for $3.3 million. His dealings with the IRS still aren’t over, however. The agency has the right to collect more cash if Sheen’s income increases at any time through 2027.
Until then, he’ll remain in the agency’s crosshairs.
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