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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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31.

Diane    

If I had to take a guess, I'd say Nick didn't give donations to the right political party??? I'm not saying, just a guess here.

1743 days ago
32.

Diane    

Nick, just ask for an appointment in the BHO administration. Your debts would be forgiven, remember? That's how it works now.

1743 days ago
33.

Floyd_is_a_skerdy_cat    

Memo to self : If I make a $#itload of money manage it yourself . Theres a reason they're called financial brokers because they're broker than you are and are probably using your money for their own ponzi scheme. Looks like Mr Cage has to make Gone in 60 seconds 2,3,4,5 , Valley Girl 2012 , Vampires Kiss 2, Face Off 2,3,4 , Broken Arrow 2,3,4, and throw in some voice work on cartoon movies.

1743 days ago
34.

JMJ    

Damn, there goes his $1M donation to Haiti. All of these celebrities should donate a million.

1743 days ago
35.

Franklin    

In a way I feel sorry for him because when you make that much money Uncle Sam TAXES THE CRAP OUT OF YOU! On top of that he gets hit with California's taxes. He ends up paying around 40% to 50% in tax! That's ridiculous!
But on the other hand, what the heck does he need 15 HOMES and 4 YACHTS FOR??????

1743 days ago
36.

iknowiwasthere    

Hmmmmm! Nic YOU had $ to pay...........start selling your $hit, DON'T THINK UNCLE SAM IS GOING TO ALLOW YOU TO "AN OFFER AND COMPROMISE"! Don't sweat it, Uncle sam is going after taxpayers that got a REFUND, but sends taxpayers letter and states, Oh, we think you owe us $$$$...........start sellin'all those TOYS and live in ONE HOUSE, NOT 15! Dude!

1743 days ago
37.

djolf    

That much unpaid tax? Definite Democrat, no doubt he was an Obama voter Move along people, nothing to see here.

1743 days ago
38.

Missy    

Okay tmz where are all the smartass comments in your story? If this had been about Michael Jackson you guys at tmz would have several smartass remarks through the whole story! So where are they now? TMZ stop hating on MJ!

1743 days ago
39.

JenniferJJ    

John Depp paid it in full

1743 days ago
40.

Ronald    

i think you guys were wrong in comparing Matt Lablanc to goerge cloony. matt lablanc looks more like the guy from the movie "evil dead"

1743 days ago
41.

Chris Anderson    

Looks like we'll be treated to a whole bunch of sequels in the near future...National treasure 3, 4 & 5 perhaps?... Wait! they can bring back "Caster troy", can't they? That would make a few bucks...Face off 2?...Caster troy's evil, long lost love child comes back for revenge...Slap a wig & some make up on Nick and off he goes, playing his own evil son, making huge bank. Awesome! And "con air 2" is an idea who's time has come, right?..

I would definitely part with 12 bucks to see con air 2...

When you have that kind of money and still manage to go broke, well, thats just about the dumbest thing I've ever heard..
Which means it's low tide for sympathy from the unwashed masses for you. Sorry Nick, but you sir, are an idiot... The sort that drives us working folks crazy.. What any of us could do with just a taste of that kind of bread..
Feel free to run with any of the above mentioned great ideas, by the way. Start your comeback tomorrow...See you at the movies, Nick..

1743 days ago
42.

Ernie    

Hey Nick do you have a couple miil you can loan me until my hunch back brother straightens out.

1742 days ago
43.

vinnie4fingers    

Yea the dam govt. and allllllllll theyre taxes. It's ridiculous as to how much tax we pay now, and they say the list of new taxes coming down the pike is more than anybody has ever seen in their careers in Washington. Obama and the demonrats are on a mission to destroy us and if the people STILL cant see that, then were dead.

1742 days ago
44.

Briana    

Ah, well, I've always paid my taxes, and so have all of the numerous other "democrats" I know (actually, the only two people I've ever known who were audited and prosecuted for unpaid Federal income tax would never have voted for Obama). Anyway, most people I know are too intelligent, and too multi-dimensional, to identify themselves and others solely by political party. But all of this "political finger pointing" is the usual moronic digression from the article at hand.

I actually like Nic Cage, but he is a squid. He lives incredibly extravagantly, one might even say excessively. I don't feel particularly sorry for anyone who boobs that spectacularly on his/her taxes. It doesn't matter if you make $25,000 or $70 million a year, or have an accountant or a "financial manager", you're the one ultimately accountable for what's happening with your money (including your taxes). It behooves a person to check up on his/her financial adviser regularly and check the books just to make sure that all is copacetic. It also helps to listen to said expert. Nic Cage is a creature of whimsy and impulse (he is the one who pitched a $10,000 engagement ring into the ocean in a fit of pique), and, actually, several of his recent films have not done terribly well because he is a petulant terror on set and does not choose wisely in selecting scripts. I would suspect that his ability to choose wisely when dealing with financial matters is somewhat impaired by poor impulse control and a certain child-like (or childish) delight in acquisition.

It was probably unwise to sue his financial manager, as that person most likely knows far too much regarding Mr. Cage's actual spending habits, hidden assets, cash flow, and general financial matters, and has most generously donated his knowledge to the IRS and other ghastly entities. Also, Sam Levin has counter-sued, which does suggest that he may not be quite as culpable as many seem to be accusing him of in Nic Cage's disastrous situation. After all, Mr. Cage is the celebrity, and he will get the support and sympathy of the masses (and the glory hound lawyers, too). Mr. Levin is a blood-sucking leech of an accountant (I'm totally surprised that no one has pointed out that he's a Jew as well...people on TMZ are anti-Semitic to the point of raving madness...and being Jewish goes with being a Shylock goes with being a leech, right? Let's hear it from the peanut gallery...) who must have been after Nic's money (what money?), and couldn't have possibly inherited a totally impossible situation and a completely deaf and stubborn client. He won't get anything but antipathy, unless he get's a brave lawyer (or a really smart one, which he may well already have) who's after the truth, not some lala land fairy-tale.

I like Nic Cage, like I said, but I think, like many people who aren't nearly as smart (or accountable) as they think they are, that he cooked his own goose. At least he has property to sell and a job with which to make money, unlike the common genus Doofus. And no, this isn't news. Is 75% of the crap on TMZ (or any other source...and, please, for the love of the FSM, don't say Fox...) news? Egads, people.

1742 days ago
45.

Tony    

People...all I have to say is: Yes, I feel bad for Nic because he is a victim. Just because he earns more money from one movie than what all of us put together will for the rest of your lives does not mean its ok for him to lose his money because of some nut who has no business managing finances. Don't judge.

1742 days ago
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