Smart kid, what now?

What do you do when your kid is soooooo smart, but won't do his work in school? Headless Boy 1 is testing higher than anyone in his class in all areas, but yet remains the only one in his class that consistently has trouble getting ANY work done in a timely manner. I brought home a HUGE stack of unfinished work today-dating back to Halloween. More than 2 weeks people!

Right now we are trying the bribery/payment method: get all work done in a day and the teacher will say ok to .50 cents in the jar. (Only once of the 4 days this week will he get it.) After Thanksgiving break we will add that IF he gets his work done in class he can read Harry Potter in class. (Their school does 'Reading Counts'-a computer based comprehension testing system that awards points for the difficulty of a book. He is EXTREMELY capable of this.)

I am just going crazy over this one. And if you think that I'm crazy, it is driving Headless Dad completely batsh*t! Do any of you have any thoughts or suggestions? I'll take any and all thoughts and comments, methods, etc., because I'm at a complete loss.

Are you out there? I really need help with this one!