Fairfax Media on Thursday reported that Hogan's lawyer said the actor could seek up to $80 million for his loss of earnings from the five-year probe.
Lawyer Andrew Robinson is quoted as saying: "His earning potential and reputation has been decimated in the international community and it has had that level of effect on his position."
Robinson did not immediately return a call from The Associated Press.
Investigators sought to prove suspicions that Hogan used offshore bank accounts to conceal earnings after his "Crocodile Dundee" trilogy became a hit in 1986. The investigation was dropped in November.
