Hogan and his friend and producer John Cornell said through their lawyer, Andrew Robinson, on Monday the pair had reached a confidential settlement with tax authorities to resolve over 150 million Australian dollars ($156 million) in alleged unpaid taxes and penalties.
Tax officials barred the Australian actor from returning to his Los Angeles home for two weeks over the matter in 2010 when he returned to Sydney for his mother's funeral. Hogan's lawyers eventually secured a deal that allowed him to leave Australia.
The 72-year-old comedy actor became an international star through the 1986 movie "Crocodile Dundee," the first of three.
