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Nic Cage

Six Million More

Tax Problems

1/16/2010 2:20 AM PST BY TMZ STAFF

Nicolas Cage got an expensive New Year's gift from Uncle Sam -- a bill for $6.7 million in MORE allegedly unpaid back taxes.

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According to a federal tax lien filed on December 31, 2009 -- Cage owes $6,712,821.99 in unpaid taxes for 2008.

According to Sam Levin, Cage's former financial manager -- who's in a legal war with Nic over the massive financial collapse -- by 2008, the actor had "15 palatial homes around the world, four yachts, a Gulfstream jet and millions of dollars in jewelry and art." Cage claims Levin was incompetent and underhanded and sunk Cage's financial ship.

As TMZ first reported, Cage is on the hook for $6,617,550.84 he owed for debts in 2002, 2003, 2004 and 2007 -- making his new grand total $13,330,372.83.

It's unclear on how Cage will pay up -- due to the fact that Nic has described his own financial state as "catastrophic."

UPDATE: Nicolas Cage just gave TMZ the following statement: "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 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."

52 COMMENTS

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16.

rhode    

Wow! He's paid $70 MILLION in taxes so far?? Ouch!! What does George Lucas pay?

1688 days ago
17.

JJ    

Dude, pay your taxes or you'll end up in jail like that other action actor...............

1688 days ago
18.

carol    

Nic -learn from this. You don't need multiple homes, jets, yachts etc. That's too showy. Live well but if you have extra funds, donate it to charities - its a tax write off for you and you will be helping so many others. If I was rich, that's what I'd do.

1688 days ago
19.

Zippy T. Pinhead    

Alot of these "Movie Stars" were born with a silver foot in their mouth and never worked a hard day in their life. Try being woke up at 2am, heading out in the bitter cold to go find and fix a problem at a telephone pole in the middle of the woods. I understand most of them worked hard to get where they are at. But it seems once they make it they lose touch with where they came from. I get a little sick of seeing these idiots either on vacation all the time or out drinking 7 nights a week (at places that keep them in the lime-light). Maybe they sould take a cue from people like Billy Bob Thornton, he avoids alot of these celebs like the plague.

1688 days ago
20.

Martin Bormann    

Didn't Doris Day have a business manager who left her broke?
One man paying $70 million to the IRS, well, that's a lotta friggin taxes regardless of what he earned. All you people earning $300 a week stop your bitchen and go out and get a real job. Coppola prolly paid for all youse food stamps, welfares and UC.
Wise up Nic, you paid $70 mil and they want more. No matter what you give 'em, they always want more. When are you gonna wake up and dump the libtards?

1688 days ago
21.

Who Dat!!!    

But wait a minute.....according to the democrats, the rich don't pay their fair share in taxes......gee, I guess they actually meant the rich in Washington DC don't pay their fair share in taxes.

1688 days ago
22.

Nameless    

Wow! Nic Cage is making some serious cash. All he really has to do is get a franchise going. I'm surprised for Ghost Rider 2 hasn't been done yet.

1688 days ago
23.

misspickwickian    

Perhaps it's time for NIC-AID.

I think the lesson here is that it is never wise to sue the person who has been managing your funds and knows all your financial secrets just after you've been sued for federal taxes.
I can't help but wonder if Levin told the authorities about additional monies or helped fill in some areas that were a little murky for them after he was served.

1688 days ago
24.

mddiva    

That's right Nicolas, tell them you are handling your business! Hey Nick you really need to make another 'National Treasure' movie ASAP. I really want to see Bad Lieutenant: Port of Call New Orleans but it is not showing in the DC area. Good Luck!

1688 days ago
25.

Mikey    

Two or three movies and he's back in black. If Ben Affleck can still get movies then Cage's lack of talent shouldn't stop him. He can still sell his 15 houses, boats, jets, jewelry, cars, etc and get out of this mess with lots of money to spare. So F the woe is me routine.

1688 days ago
26.

dug    

People, people, people. please get with it. Nic Cage earns $10 million per movie - however, what they don't tell you is the following: First off, deduct 40% off the bat for taxes; take another 10% for managers cut, take another $60-70,000 off that for nanny care while shooting the movie, take another $100,000 for shopping, groceries, drinking, whores etc while on the set, take another $100,000 for condo living while shooting the movie etc. This leave the Cagster with $4,730,000 take home money. NOW, deduct taxes alone off of 15 homes and cars alone, this will cost apprimately $3,000 per home/car per month which = $540,000. which now leaves $4,190,000 for the year.. now, take another $2,000,000 of of that for crazy buying fetishes, every day care, kids etc.. which leave Nic about $2,000,000. Take another 20% off that for bad financial manager and that leaves $1,400,000 per year... now, he goes and buys $1,300,000 of bad investments each year which leaves him with $100,000 net per year dwindles down from 10,000,000 for the movie. So, kids, become a great car salesman, get a full ride to a good institution, be responsible with your money and you'll make easily just as much as Nic Cage per year and most celebrities.. They are so quick to point out what they bring in for a movie, but they don't report how much they have to spend on excessive other ammenities.. be smart, be real, live and learn and get IT!

Just like Doctors.. hmmmm they owe about $200,000 for their education... they owe approximately $60,000 per year on malpractice insurance and they buy homes and cars that say look at me.. I'm a Doctor - but they can't afford it.. they are just able to get loans because they have a career in which investors know they'll have for a long time and will pay back in many years to come... so again, if you are a Doctor with those expenses.. if you are an average Joe who makes $60,000 per year, with no college expenses and good spending habits.. you'll make more than a Doctor, no doubt about it.. live it, learn it, know it! Don't get bamboozled by the numbers.. use your head and think about it!

1688 days ago
27.

Diggers    

I'm sure it's becoming painfully obvious to Nick that he might need to consolidate his excessive lifestyle and purge himself of some unneeded belongings, but it sucks to entrust your entire financial situation to someone who should be able to handle it professional and with competency, as Levin has apparently failed to do.

I'd be pissed if I were Nick, but then again, I've never trusted anyone but myself to keep exact track of how much I've got... something to be said for keeping your own eyes on your own money, no matter how massive the amount.

1688 days ago
28.

Aussie    

I am sorry I don't feel sorry for him. Think about it. ONE movie ($20 Mill) less taxes should just about cover the expense. Get over it!!

1688 days ago
29.

BillyBurke    

If you are making $20 to $40 million a year what would YOU spend it on?

So what if the man buys a few homes around the world for his off time? It's his money he earned it.

He has paid over $70 million in taxes and committed to make good on the other $14 million within the next year or so. Sounds like Nic is doing the right thing to me.

The man is doing pretty darned well in my book and has come a long way in his career.

GO NIC GO!!!

1688 days ago
30.

sonley79    

I think he should talk to Oprah...she always signs cheques, says never let someone else handle your money.
What an idiot...he must be stupid not to be able to do simple math and I have 2 homes (ok one is a cottage) but still, I watch where the money goes don't you all?
Stupid guy!
Maybe he'll see that guy who went to jail for not paying taxes...what was his name again?

1688 days ago
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