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Nic Cage

Targeted By IRS

Over Extravagant Gifts

4/15/2011 12:43 PM PDT BY TMZ STAFF

Nic Cage might be the GREATEST GIFT GIVER of all time -- because according to the IRS, the actor gifted roughly $1.8 mil to people between 2004 and 2009 ... problem is, he forgot to pay the taxes.

0415_nic_cage_exd_doc
TMZ obtained a federal tax lien filed against Cage in L.A. County -- which shows the actor is on the hook for $624,934.64 in unpaid gift taxes. 

FYI -- federal tax laws require the gift giver to pay a 35% tax on all large gifts.

Here's a year-by-year breakdown on how much money Cage allegedly owes based on the gifts he gave ... notice how the size of the gifts diminished as his financial woes grew.

2004 -- $135,500.90
2005 -- $113,648.10
2006 -- $163,059.93
2007 -- $164,336.98
2008 -- $40,429.45
2009 -- $8,959.28

As TMZ has previously reported, Cage blamed his former business manager for making risky and reckless investments with his fortune ... resulting in "catastrophic losses."

62 COMMENTS

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16.

Gridiron    

The IRS is just a legalized mafia. Pay their outrageous tributes or sleep with the rest of the new fishes in jail.

1234 days ago
17.

Bubbles The Chimp    

The United States IRS is criminal. They have double, triple, quadruple taking dipping.

1234 days ago
18.

janet    

Wesley Snipes. Cage is still responsible. Didn't work for Snipes who got 3 years. The feds will put you in jail. Pay your taxes.

1234 days ago
19.

Sam    

Poor Nick. Nice guys finish last and, not good deed goes unpunished.

1234 days ago
20.

Kris in NYC    

WTF! why does the government get to tax a GIFT?!?! We already pay taxes on receiving the $$ from work in the first place, if we want to give people gifts from that $$ we should be able to without taxing that $ AGAIN... Grrrrrr

1234 days ago
21.

firetornadao    

thats if they are`nt a nonprofit.He would do better to become a loanshark than he could write off any loans as bizness losses60...0 grando an`t bad when you make over 30 millions a movie and delaying paying can save tons of money also

1234 days ago
22.

teebag    

AJLind is out of his mind if he believes the propaganda being spread about a non-existent 90% tax on ANYTHING. That would be political suicide for Obama. Do your research...
Bitch PLEASE!

On the other hand... I've never heard of this "gift tax". Sounds ridiculous. Why would anyone give any kind of gift of size if they were looking at paying out 35% of the value. Good luck to the museums hoping to acquire some old farts Renoir!

1234 days ago
23.

fuvsdazzlers    

GOT lov that cage act,jewish op saven the payday for a few 100,000 hollywood types

1234 days ago
24.

Anya    

Gift taxes are nothing new and are only for SIZABLE amounts given in ANY ONE YEAR. The recipient doesn't have to declare the gift (of money, goods or property) as income, so pays no tax on it. That's why the donor does.
And even the donor doesn't have to pay tax on it if they spread out their gifts by giving a lesser amount to more people over the year. If he had simply looked into it before making those gifts by checking with IRS (for free info) or a consulting with a paid tax professional first, he could have easily found there are LEGITIMATE ways to avoid paying ANY TAX AT ALL on gifts.

1234 days ago
25.

Jim    

I tell ya, when the IRS wants to make a public spectacle of someone, they NEVER let up. They're going to chase him until his last days, just to make a point. Jerks.

1234 days ago
26.

Darshan53    

Funny that the IRS didn't include this in the first round of "Debt" that NC was found to owe. He has already divested most of his property to pay that back, and like another commenter said, he's having to work almost any grade production to make money as it is.
The (illegal) IRS machine seems to be trying to screw NC one step at a time. Let's hope he keeps his head up and beats the IRS. Keep on keeping on, Nick!

1234 days ago
27.

abused by da state    

California sucks!! just another money grab by the douches in Sacramento. 35% for the gift giver!?! what a f-ing joke. I got hit with their new "use tax" they're enforcing and was just charged Ca. sales tax on something I imported from another country in 2003! Paid my duty, they said oh we know this is another tax we are doing and oh yea we're charging you interest and penalties! this doubled it! WFT!?! I had a meeting with my accountant coming up and guess what? they took the money out of my account, no warning nothing! How do you think it'll will go trying to get that back?
Just wanted to let you Ca people know what they are doing. Read the whole law and what they are going after is the internet! I asked the guy, let me guess you're going after ebay? he said no right now we are going after people that bought stuff on Amazon and didn't pay sales tax. Guess what all you people that bought big screen tv's with free shipping and no tax from another state are going to be getting a tax bill in the mail in the coming months!! Maybe they'll just take it out of you account too ;-)
The law states that anything you bring, use or store in California is subject to Ca sales tax. This includes if you get it for free ( I'm not sure how they would enforce that? )buy it from another state or country.
Just wanted you all to know what the free spending liberal California are up too and all you other states should keep an eye on us cause you'll probably be next. I want the country I grew up in back!!!

1234 days ago
28.

yomama    

wait. I don't get it. SO, I've got 100,000 bucks that I've earned and paid taxes on. Are they saying that if I decide to give that to ... say... some guy on the street, I've got to pay taxes on it AGAIN??? Or is it the case that nic did not pay taxes on the income to start with? I don't get it.

1234 days ago
29.

b    

This LOSER needs to rot in jail. 10 years minimum. Why do I make only 100,000 k and pay my taxes and he make 20 million but does not

1234 days ago
30.

Johnny Rocketship    

IF you all are paying attention to recent events that would also mean that Charlie Sheen has to pay taxes on all these cars and **** he gave to all his hookers and live ins.

OUch.

1234 days ago
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