Taylor -- who has appeared in the films "Say Anything," "Mystic Pizza," "I Shot Andy Warhol" and "High Fidelity," as well as the TV series "Six Feet Under" -- will star alongside Megan Mullally, Patton Oswalt and David Wilson Barnes in "Lips Together."
Directed by Joe Mantello, the show is to begin preview performances April 9, ahead of an official opening night of April 29 at Manhattan's American Airlines Theatre.
The limited engagement is to run through June 20.
"'Lips Together, Teeth Apart' takes place on the elegant deck of a beach house on Fire Island. A brother and sister and their respective spouses attempt to celebrate the Fourth of July with a gnawing uncertainty that makes their affluent habits and petty prejudices sizzle in the summer sun. In this unforgettable comedy, Terrence McNally does for the beach house what Chekhov did for the Russian country estate," the Roundabout said in a news release.