Nicolas Cage Pays $600,000 Tax Debt, Still Owes Millions
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?
Tags : nicolas cage movies, nicolas cage tax debt, nicolas cage tax problem, nicolas cage taxes
Posted: November 19, 2012
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Nov 19, 2012
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….
Nov 19, 2012
Nick CAGE….What an IDIOT…ought to be working for the Post Ofc.
Nov 19, 2012
Not much sympathy here. I need to figure out if he owes me money!
Nov 19, 2012
Not a fan. Not surprised of his tax debt. He needed a dinosaur skull why?
Nov 19, 2012
this is just one of many 1% who don't pay taxes!
Nov 19, 2012
At least he is on his way to paying all the back taxes, gotta respect that!
Nov 19, 2012
Umm i have no sympathy
Nov 19, 2012
Wow, another broke celebrity! Too bad acting classes don't include financial management techniques…
Nov 19, 2012
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
Nov 19, 2012
He always needed acting lessons–still does. But, accounting lessons would've been REALLY helpful. What a schmuck.
Nov 19, 2012
terrible actor, he must be as bad at handling all that money as his acting career….
Nov 19, 2012
over $70 million paid in taxes, thats more then anyone commenting on it lol
Nov 19, 2012
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!''.
Nov 19, 2012
His movies lately really suck, The IRS should reduce what he owes so he can go back to making a few good movies.
Nov 19, 2012
By the way, the goober with 3 names that wishes he could help him is an idiot.
Nov 19, 2012
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.
Nov 19, 2012
They already do in the form of tax breaks.
Nov 19, 2012
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!
Nov 19, 2012
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
Nov 19, 2012
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
Nov 19, 2012
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
Nov 19, 2012
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
Nov 19, 2012
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
Nov 19, 2012
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
Nov 19, 2012
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?
Nov 19, 2012
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.
Nov 19, 2012
SO TRUE!! Forgot about Wesley!!
Nov 19, 2012
Cage owes me ten bucks.
Nov 19, 2012
He didn't learn that one critical economic lesson: sign your own checks!
Nov 19, 2012
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.
Nov 19, 2012
Most liberals avoid taxes. Warren Buffet owes billions, Bono…..alec baldwin. All pigs.
Nov 19, 2012
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.
Nov 19, 2012
http://www.youtube.com/watch?v=DescO7qnD50
Nov 19, 2012
Nick, stay outta NOLA and pay off those run down shacks you still own.
Nov 19, 2012
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.
Nov 19, 2012
@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.
Nov 19, 2012
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.
Nov 19, 2012
Niceeeeeee !!!!!
Nov 19, 2012
Terrible actor. I'm surprised he ever made enough money to owe that much in taxes.
Nov 19, 2012
Is Nicolas victim of KGB rip off?
Nov 19, 2012
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!
Nov 19, 2012
Cindy Right …Geoffrey Imelt(obama's job czar) from GE. They have never paid a dime in taxes
Nov 19, 2012
Hey.. Chris.. you numbskull. He is paying his taxes… read the article.
Nov 19, 2012
ok I don't get it in 2011 he made 30 million just give em the 6 million and be done why only pay 600,000 get it over with.
Nov 19, 2012
Sam Levin—well that explains it!
Nov 20, 2012
The rich guy gotta pay his fair share.
Nov 20, 2012
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.
Nov 20, 2012
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.
Nov 20, 2012
Get a life and make a rap cd
Nov 20, 2012
He's a nephew of Francis Ford Coppala. I'm guessing he was born into money.
Nov 20, 2012
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
Nov 20, 2012
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.
Nov 20, 2012
Exactly
Nov 20, 2012
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
Dec 15, 2012
he's washed up