Actor Nicolas Cage Chips Away At Massive IRS Tax Debt
When you owe money to the IRS, you will pay it back one way or another, regardless of your fame; that seems to be the lesson actor Nicolas Cage is coming to understand. Cage who has reportedly paid off $600,000 towards his tax debt is doing so with one acting role at a time. Despite making great strides in his debt to the IRS, he still owes about $6 million to the government.
Cage, who seems to have an affection for expensive gadgets and trinkets, filed a lawsuit against Sam Levin, his former business manager, alleging that Levin escorted him “down a path of financial ruin.”
Cage is reportedly the owner of several mansions, two yachts, three castles, two islands in the Bahamas and a jet. He is currently in production on the film Kick-Ass 2 and is best known for his role in the movie National Treasure.
Back in 2012, Cage confessed to being in financial hardship: “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, however, I am under new business management and am happy to say that I am current for 2009.”
Cage is an Academy Award–winning American actor, producer and director, and has appeared in over 60 films.
So do you think that Cage has obtained more sound practices when it comes to money? Check out a clip of him in National Treasure below!
Cicely C. Mitchell, Hot 95.7/ Houston