Nicolas Cage IRS Payments Exceed $6 Million, Actor Owes $7 Million Still
Nicolas Cage's IRS payment exceeded $6 million in the Hollywood star's effort to pay back the hefty sum of $14 million in back taxes.
Nicolas Cage paid the IRS $6.25 million in owed taxes, bringing his total monies still owed to a whopping $7 million, according to documents obtained by E! News. The payment was for his 2007 earnings, but it's nothing compared to what the star has paid- or made- over the years, he said.
"Over the course of my career I have paid at least $70 million in taxes," he told People magazine. Cage blamed the propensity for him to get involved in tax trouble on "management," not himself, however.
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"I am under new business management and am happy to say that I am current for 2009. All taxes will be paid including any to-be-determined state taxes," explained the actor.
This isn't the first time the highly-paid actor has gotten on the wrong side of the IRS. 2009 found Cage in a heap of trouble, as the IRS foreclosed on four of his lavish homes. Two properties in New Orleans went for a combined estimate of $6.8 million, his home in Los Angeles for $10.5 million, and his manor in Las Vegas for $4.95 million.
The 48-year-old Academy Award winner was also forced to sell his German castle. He then filed a $20 million lawsuit against his manager, Samuel J. Levin, for negligence and fraud for not paying Cage's taxes and low-quality, risky investments.
Cage's money problems didn't end there, though. His ex-girlfriend, Christina Fulton, sued the actor for $13 million in 2009 for failing to support her and failing to transfer their home to her name. The case was settled.
Cage has been able to survive the onslaught of tax problems, lawsuits, and expensive purchases because he is one of the highest-paid Hollywood actors, earning over $40 million in 2009, according to Forbes.
The publication also claims that Cage is one of the most overpaid actors ever, behind big names like Drew Barrymore, Eddie Murphy, and Denzel Washington. For every $1 Cage is paid, his movies only make $4.40 in revenue, on average.
