NAMES IN THE NEWS : Foxx Made Millions, Lost More
Comedian Red Foxx once made $4 million a year but lost the money in lawsuits and broken deals and because he failed to heed the IRS, according to voluminous records in U.S. Bankruptcy Court.
The IRS stepped in Tuesday and raided Foxx’s home in Las Vegas, seizing his property--including furniture, cars and jewelry he was wearing--for failure to pay $755,166 in taxes.
Foxx was left with an empty house, which the government says it will sell if he doesn’t settle the tax debt in 30 to 45 days.
Foxx was one of the top-paid performers in the United States in the 1970s. He currently works as a comedian at the Hacienda Hotel on the Las Vegas Strip, earning $20,000 a week. He said Tuesday the $20,000 has gone to the IRS the past several weeks.
His manager, Prince Spencer, said Foxx was paid $500,000 for his role in the current film “Harlem Nights.” Foxx vowed to bounce back from Tuesday’s seizure.
“I’ll make it,” he promised. “I got good friends.”
The $755,166 Foxx owes the IRS does not include interest and penalties. Court records show Foxx also owes state taxes in California and New Jersey.
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