The cast also features Owen Wilson as a Broadway producer who will kick-start the actress's career.
Jennifer Aniston will play a therapist whose alcoholic mother is going into detox. Olivia Wilde was previously supposed to take on the role.
Filming on the movie will start in New York in June. Peter Bogdanovich wrote the screenplay with actress Louise Stratten (Django Unchained).
Director Wes Anderson (Moonrise Kingdom) and screenwriter Noah Baumbach (Madagascar 3) will be producers.