Michael J Fox couldn’t afford to pay his taxes in 1980. Somehow, he was still driving a Porsche
In 1980, Michael J Fox was a struggling actor in Los Angeles who owed the US Internal Revenue Service $50,000 in unpaid taxes. He leased a Porsche on his accountant’s advice to get to auditions, while the car also helped him appear employed; the story illustrates the financial precarity behind his early career.
A cancelled series, an actors’ strike and restrictions on working outside acting left Fox short of income, and he fell behind on both the car lease and the accountant’s fees. The accountant repossessed the Porsche, and by 1982 Fox was considering returning to Canada. He then auditioned for *Family Ties* and won the role of Alex Keaton; the show’s success helped launch his stardom, alongside *Back to the Future*.
In short
- Fox owed the IRS $50,000 in unpaid taxes.
- He leased a Porsche to get to auditions.
- *Family Ties* helped turn his career around.
Explained simply
In 1980, Michael J Fox was a young Canadian actor trying to build a career in Los Angeles. His early work was uncertain, and a cancelled television series and an actors’ strike left him short of money.
Fox owed the US tax authority $50,000 and leased a Porsche after his accountant advised him he needed reliable transport for auditions. The car could also make him look established, but his debts grew and the accountant eventually repossessed it.
Fox later considered returning to Canada, but landed a role in the television comedy *Family Ties*. Its success, followed by films including *Back to the Future*, made him a star and changed his career prospects.