Posted in: Celebrity News

Nicolas Cage Pays $600,000 Tax Debt, Still Owes Millions

nicolas cage

Nicolas Cage has become one of the hardest working actors in Hollywood. Why? Well, the Oscar winner has a pretty large tax debt.

According to TMZ, Cage recently paid more than $600,000 toward his tax debt. Unfortunately, the actor still owes the IRS millions.

Cage was hit with a tax lien of $624,934.64 back in 2011. He’s paid back that money, plus another lien for $6 million, but still owes about $6 million to the government.

Monsters and Critics reports that Cage’s tax debt comes from several extraordinary purchases (like a 67 million-year-old dinosaur skull) bought between 2004 and 2009 and a few bad business decisions. Cage sued his former business manager, Sam Levin, a few years ago saying that Levin led him down a path of “financial ruin.”

But Cage is pretty confident about his monetary situation. The actor has taken on dozens of roles recently in order to generate some income to pay off his tax debt.

In 2010, Cage said:

“Over the course of my career I have paid at least $70 million in taxes. Unfortunately, due to a recent legal situation, another approximate $14 million is owed to the Internal Revenue Service (IRS), however, 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.”

Cage starred in five movies in 2011 and has eight movies lined up for 2013. Cage’s recent movies haven’t been huge successes, but the actor still demands a pretty nice paycheck. According to IMDB, the actor was paid $7.5 million for the latest Ghost Rider, $12 million for Seeking Justice, and another $12 million for The Sorcerer’s Apprentice.

It’s not clear what Cage will be paid for his upcoming movies, but he should be able to pay back his $6 million tax debt in the next year or two.

Are you a fan of Nicolas Cage? Are you surprised that he has such a big tax debt?

Articles And Offers From The Web

Comments

55 Responses to “Nicolas Cage Pays $600,000 Tax Debt, Still Owes Millions”

  1. Anonymous

    I wish I could help him, people like Nicolas Cage who have been screwed by their Manager should be able to get help from every known source….

  2. Tank Linda Gillis

    why did he have to pay taxes on a dino-skull, did the dinosaour have an unpaid debt to the irs millions of years ago? hmmphhmm

  3. Al Alford

    He always needed acting lessons–still does. But, accounting lessons would've been REALLY helpful. What a schmuck.

  4. Mike Noble

    Donate the skull to Dinosaur Provincial Park. Never make another movie called Bangkok Dangerous. The good Karma from that alone should do the trick. Because right now when I see him, he makes want to 'take his face…off!''.

  5. Siobhan Harper

    He has my complete sympathy! Yes, he has made a lot of money, but look at what he has already paid in taxes! Millions! It's obscene, although not as obscene as what middle-income Americans experience if they run into tax problems. Penalties, interest, and more penalties, until the only reason you're working is to pay taxes! It makes me positively ill! Good luck, Mr. Cage, and my compliments on taking responsibility for an untenable situation.

  6. Frank Lopez

    Not a fan but the guy SHOULD know what's going on with his money. And really? A dinosaur skull? Really? And that horrible decorating job on his last residence probably cost a horribly obcene amount of money. It looked like Goodwill THREW up in his house. Nick, also, please stop making movies. You may as well make one called Paying the I.R.S. about a flaming superhero who is brought down by IRS agents on his tail. They confiscate his flaming cape and flaming motorcycle but NO ONE can put the flamer out! In the end, the tax debt is wiped clean and he sits down to break bread with the agents who were once his pursuers!

  7. Keron Traverso

    wesley snipes only owed 3 million back tax, he paid it off but they STILL jailed him. yet they dont jail cage and cage owed 4x that of snipes. hard to be a successful black man in america

  8. Keron Traverso

    wesley snipes only owed 3 million back tax, he paid it off but they STILL jailed him. yet they dont jail cage and cage owed 4x that of snipes. hard to be a successful black man in america

  9. Keron Traverso

    wesley snipes only owed 3 million back tax, he paid it off but they STILL jailed him. yet they dont jail cage and cage owed 4x that of snipes. hard to be a successful black man in america

  10. Keron Traverso

    wesley snipes only owed 3 million back tax, he paid it off but they STILL jailed him. yet they dont jail cage and cage owed 4x that of snipes. hard to be a successful black man in america

  11. Keron Traverso

    wesley snipes only owed 3 million back tax, he paid it off but they STILL jailed him. yet they dont jail cage and cage owed 4x that of snipes. hard to be a successful black man in america

  12. Keron Traverso

    wesley snipes only owed 3 million back tax, he paid it off but they STILL jailed him. yet they dont jail cage and cage owed 4x that of snipes. hard to be a successful black man in america

  13. Anonymous

    All these celebs and sports figures, etc. making 10, 20, 50 million per year and still they owe. Then, there are those people who go to IRS HELP stores to get their taxes reduced. I pay all my taxes myself. Why can't they?

  14. Anonymous

    After earning 21.5 mil in the last couple years he should have cleared 10 mil at least but can't pay most of his tax debt or even half of it. Anybody else would have had their pay garnished until the debt is paid.

  15. Mike Binkley

    He didn't learn that one critical economic lesson: sign your own checks!

  16. Anonymous

    I like Cage as an actor from what I know about his personal life isn't worthy of text, You would think that he shouldn't have any problem paying his dept he is a great actor, Just as long owing this dept doesn't throw him into depression 10,000.00 would kill most any of us.

  17. Stelios Touchtidis

    I do like Nick Cage. Fun actor, and he lives life to the fullest. And even if he spends himself into the poorhouse, he's got rich relatives to take care of him in his dotage.

  18. Jack Pritchard

    TAX, TAX TAX That's all a POLITICION lives for. Why doesn't the Man on the Street UNDERSTAND that the MORE Money Goverment Steals off the People the MORE they Waist…Damn Taxaholics.

  19. Michael Young

    @Keron Traverso he owed 2.7 for 1999-2001 alone. The IRS said he hadn't paid taxes for almost a decade. also, there were allegations that he filed false tax reports. Not to mention he was a dues paying member of a tax protest group. If your going to keep posting the same comment over and over and over again at least try and make it the truth. It has nothing to do with him being a black man and everything to do with his complete disregard of tax law.

  20. Anonymous

    Keron Traverso he owed 2.7 for 1999-2001 alone. The IRS said he hadn't paid taxes for almost a decade. also, there were allegations that he filed false tax reports. Not to mention he was a dues paying member of a tax protest group. If your going to keep posting the same comment over and over and over again at least try and make it the truth. It has nothing to do with him being a black man and everything to do with his complete disregard of tax law.

  21. Anonymous

    Terrible actor. I'm surprised he ever made enough money to owe that much in taxes.

  22. Chris Volz

    No Cindy, being liberal has nothing to do with not paying taxes. That is just your conservative pea brain mentality! Now go back to your parents basement and wait for your welfare check!

  23. Daniel Adams

    Snipes tried to avoid paying thats why he is in jail so quit trying to play the race card it doesnt work for everything. Blacks need to find a new card because the race card is wore out.

  24. Daniel Adams

    He spends money like its going out of style. He owned 12 houses at one time along with owning a buncjh of expensive art its no wonder he has the problems he has.

  25. Ron Korn

    He's a nephew of Francis Ford Coppala. I'm guessing he was born into money.

  26. Anonymous

    Keron you are an ignorant black man who should follow spike to jail. no one goes to jail because they owe taxes, people go to jail if they commte illegal tax related acts, which snipes did but cage did not. i am a black man from africa who owes irs axes but busy paying them off monthly, they did not sent me to jail. stop being an ignorant jerk

  27. Political Rants

    Why do blacks ALWAYS play some version of the race card? Blacks are the racists, not whites. Roger Clemens didn't break the law, he was accused of lying to congress and they penalized him — A WHITE GUY by the way. What exactly was his crime? And Martha Stewart went to jail for misleading agents in an investigation, she's a WHITE WOMAN. So let's get over this constant claim that everything is about race. It isn't.

  28. Daniel Adams

    Hard to be successful black man when you have felonies thats the problem with black men, always talking about getting paid but dont want to do it legally