Celebrity Back Taxes: CHARLIE SHEEN Gets $4,000,000 of IRS Debt FORGIVEN

There are some who mistakenly believe that you need to be dirt broke to get an offer in compromise approved, but that certainly wasn't the case for Hollywood actor Charlie Sheen, who owed millions of dollars to the IRS and recently got an offer in compromise approved by the government. Here's a deep dive analysis into how Charlie's CPA got Charlie's offer in compromise approved (the third time was the charm) — as well as five lessons you can learn about your own tax debt from Charlie's case.

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Table of Contents:
0:00 IRS Offer in Compromise
0:33 Dave Ramsey Offer in Compromise Myth
4:35 Offer in Compromise Timeline
5:18 Charlie Sheen’s Tax Problem
6:44 The IRS Notices Charlie Got
7:50 Charlie’s First Collection Due Process (CDP) Hearing and Installment Agreement Request
10:00 Charlie’s Form 433-A Issues With the Appeals Officer
12:19 Charlie’s First Tax Court Petition
12:58 Charlie’s First Offer in Compromise Request
13:49 Charlie’s Second Collection Due Process (CDP) Hearing
15:42 Charlie’s Second Offer in Compromise Request
17:39 Charlie REJECTED in Appeals for Both OIC and PPIA
21:43 Charlie’s Second Tax Court Petition
23:41 Charlie Back in Appeals
24:09 Charlie’s Offer in Compromise ACCEPTED
24:54 Lesson #1
25:48 Lesson #2
26:44 Lesson #3
27:54 Lesson #4
28:48 Lesson #5

#taxlaw #tax #taxes

[DamianoOkaie]

Mr Logan you are great felo, you are doing great in educate me. God bless 🙏

[hughwhitledge]

Thank you for helping to clear up the misconception that you have to be a pauper to get an OIC approved.

[GrthxAlot]

Fascinating! I wonder how much Charlie paid in legal and CPA fees for this. And, what did he think would happen by not paying his taxes all those years?

[showtime]

Interesting- I had a phone consult with a gal supposedly in your office who said the exact same thing Dave said. I owe $49k federal and $14k state.

[Acctgdept]

I question whether us mere mortals would ever get the same outcome as Sheen did, and even if we did, the expense of so many of layers of litigation would probably exceed the settlement.

[Godless_Ghosts_of_Gomorrah]

“Same address as in high school is codeword for unemployed”.

- Logan Allec 2022

[jasonmims]

It sounds like the IRS made an assumption that because he is a celebrity with lots of wealth he should not have this arrangement with them so they didn't follow their own procedures correctly.