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Joe Francis

Record-Breaking Tax Debtor

11/18/2009 8:20 PM PST BY TMZ STAFF

The IRS wants some serious "Girls Gone Wild" money, because they've filed a lien against Joe Francis for a whopping $33,819,087.14 ... this according to documents obtained by TMZ.

1118_joe_francis_doc_launch_ex-1

The Federal Tax Lien doc was filed today. The IRS claims Joe owes the money for 3 years of back taxes -- 2001, 2002 and 2003. In 2001, the IRS says Joe didn't pay $17,658,358. In 2002, the delinquency is $11,238,582.14, and in 2003, he owes $4,922,147.

It was less than 2 weeks ago that Joe got out of a sticky federal tax evasion case by copping a plea and avoiding prison.

Joe told TMZ, "I have no idea what it is." He says he does not owe the money and, "This is total retaliation for me beating them in court." Joe says the law the IRS is using hasn't been used against anyone in 20 years.

Joe says yesterday, the feds seized more than $100,000,000 in cash accounts of his.

Joe says the IRS is forcing him to file for personal bankruptcy, which he will do tomorrow.

91 COMMENTS

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61.

Amy    

Finally some comments recognizing the disturbing, corrupt practices of the government. Joe, you need to get those great lawyers from Monger Tolles and take on the government on behalf of the rest of us. If this is true, I say fight 'em.

1765 days ago
62.

Ultraworld    

Karma's a bitch. He took advantage of barely legal girls. The IRS will finish him off now. I'm shocked that an angry father hasn't gone after him already.

1765 days ago
63.

STFU TMZ YOU ARE IDIOTS    

I told you idiots that Paris was lying (for those of you that are dumb and take up for her) but you just believe everything she says cause you are dumb. I also told you that she's a celebrity and they will cut her slack. Of course they knew she was lying, they aren't dumb. The LAPD are corrupt, hello maybe next time you'll learn and maybe not, probably not cause you're too dumb!!!!!! F"n IDIOTS!

1765 days ago
64.

jwoolman    

Someone said a bankruptcy for health reasons wiped out $20,000 in back taxes. That's a pretty small amount compared with Joe's, and also my guess is that any optional actions by the IRS for a health-related bankruptcy (meaning half US bankruptcies...) might be a tad different than in this case.

They do settle for less than owed when they think that's all they can get in any case of back taxes owed in general, even without a bankruptcy. And they have certain things and a certain amount of cash for living expenses that will not be taken in any case on a monthly basis when garnishing wages for back taxes (check out www.irs.gov for details). But Joe is not without assets to go after, unlike the rest of us turnips. He obviously has the money to pay, he just doesn't wanna.

Lesser mortals file for bankruptcy because they really don't have the money to pay the IRS and other creditors in full. Then everybody gets in line to try to collect what they can from whatever assets the poor turnip does still have. The bankruptcy organizes the queue.

If the IRS has already frozen or seized money in Joe's accounts worth so much more than the actual amount owed - I don't see how filing for personal bankruptcy after the lien (for the sole purpose of trying to keep the IRS from collecting the money he obviously has) is going to fool any judge. The IRS goes after bank accounts first, and generally the amounts owed are frozen to give the taxpayer a chance to actually pay the IRS directly (maybe two weeks). After two weeks, the bankers hand over the money to the IRS. They would freeze multiple accounts simultaneously if necessary, but generally any amount above the amount owed is still available for use - so Joe ain't gonna starve, he just has to talk to his bankers.

Plus the federal lien will stand against other assets he has, regardless of bankruptcy. And of course if any fraud or attempt at tax evasion is involved - all bets are off, sorry Joe.

1765 days ago
65.

g    

jwoolman

my point was, you can wipe out owed IRS monies through bankruptcy.

people was posting, how stupid, you can't wipe out debts to the IRS through bankruptcy ..................

g

1765 days ago
66.

Nameless    

Dang!! There is something seriously wrong when you have to file bankruptcy and you have a $100,000,000 in cash in your account. Won't do any good because you can't file it to stop collection on taxes; even in death the IRS gets theirs.

1765 days ago
67.

RabbleRouser    

I don't understand how the IRS seized 100 million in cash off of him when he owes much less than that. Did someone from TMZ add an extra zero.

I bet you those trashy Kardashian sisters won't have anything to do with him once he he broke.

1765 days ago
68.

Harry Kunt    

Who is going to feel sorry for the king of all douche bags ?

1765 days ago
69.

kr    

Are you kidding me?? This guy is close to a BILLIONAIRE and all you whores got was a lousy crappy t-shirt. Dear lord women are butt ass stupid. Making money off retarded ppl should be illegal

1765 days ago
70.

TeamKate    

44. This is to #39 JoeWeHateU............I would guess your not quite up to the standards that would allow your body be shown on either GGW or playboy. And from your heated attitude, sounds like you are over due for a "HOT BEEF INJECTION"

Posted at 9:11PM on Nov 18th 2009 by Hef



HEF Darling...You sound like the typical loser who sits behind their computer. Always scanning the free porn pages because you can't afford to pay! Piece of trash, broke @ss waste of space! Probably also in need of a "HOT BEEF INJECTION" cause you go both ways! Now STFU...Nuff said @ss wipe

1765 days ago
71.

Anita    

Actually it's Lindsay Lohan who is lying and denying she does drugs, when we all know better from her parents' phone conversations.

She is also lying about non-existing upcoming deals. Not to mention that she is whoring it up with both male and females and closing down the bars each night.
Bitch should be in jail for her 2 (!) DUIs.

1765 days ago
72.

SHEILA    

what a piece of **** Joe is! i'm so tired of these rich little brats walking around living up the life and spending thousands on alcohol in one nite, yet u can't pay your taxes!!! i know not all wealthy people avoid taxes but u've got to be kidding me Joe! retaliation? if u owe it, u owe it! pay it!

1765 days ago
73.

marie    

It goes to prove the point, if the uber rich would pay what they owe the middle class would not be hammered with every bailout tax on the planet. Though the math does not work on this. If they (IRS) took 100M from him and he owes approximately 34 Mil, where's the other 66 Mil? Penalties? If so then the IRS is nothing more than legalized loan sharks.

1765 days ago
74.

Some Faustkateer    

I'm sure the govt would love to see Joe file for bankruptcy! They will have him counting his underwear. Couldn't happen to a nicer guy. He belongs broke AND in prison!

1765 days ago
75.

Maniacal Zebra    

Uhhhhh ... If this guy actually has $100 million lying around, how is he going to prove that he's even eligible to declare bankruptcy?

Plus, if he has $100 million IN CASH lying around, he needs to fire his financial manager.

1765 days ago
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