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Val Kilmer Owes IRS $500,000: Feds Put Lien on his Property

By Jason Beahm on January 04, 2011 | Last updated on March 21, 2019

Hey Batman, meet the tax man.

Val Kilmer, star of "Batman Forever" and "Top Gun," owes half a million dollars in federal taxes. The IRS has now placed a lien on his property, including his New Mexico ranch which is currently on the market.

The IRS placed a tax lien on the Santa Fe property because he allegedly failed to pay his 2008 income taxes. The 5,300-acre property was listed for sale for $33 million in 2009. It is now listed at $18.5 million, The Associated Press reports.

The government established an interest in Val Kilmer's property as a creditor by filing a Notice of Federal Tax Lien. The lien is required by law to establish priority as a creditor in competition with other creditors in certain situations, such as bankruptcy proceedings or sales of real estate. The lien is a claim against your property, including property that you acquire after a lien is filed. Once the government has filed the lien, it may appear on your credit report and harm your credit rating. Not that Val Kilmer has to worry about such things as Equifax.

For the rest of us, it is vitally important to resolve your tax liability as quickly as possible, well before lien filing becomes necessary. Once the IRS files a tax lien, it generally cannot issue a "Certificate of Release of Federal Tax Lien" until the taxes, penalties, interest, and recording fees are paid in full.

It's never a good idea to fail to pay your income taxes. If you can't afford to make your tax payments, you can consult with an accountant or tax attorney and file for an extension.

So now you know: yes, even Batman has to pay his taxes.

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