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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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31.

sick of it    

He's a good actor but he's no better than me when it comes to taxes..he goes to jail!!!!!!!!

1250 days ago
32.

Carl    

Looks like Nic will be churning out more terrible movies to pay the bills!

Hard to believe this is the same guy that gave us Leaving Las Vegas and Raising Arizona.

1250 days ago
33.

Sandra     

Strange man with a stranger story!!! Pay your taxes like most Americans do after all he made big money!!

1250 days ago
34.

Joe Bibby    

The fact that the government takes 35% tax on a gift you already paid taxes on when you bought it, should infuriate most of us.

1250 days ago
35.

Hugh    

I remember when this guy was a good actor. Too bad he's such a mess now.

1250 days ago
36.

Zella    

IRS tax code ALLOWS for up to $13,000 to be given tax free. Noone pays taxes on that, the gifter or receiver. Maybe Nic Cage needs to downsize the gift amounts to what is allowable by IRS as non-taxable.

1250 days ago
37.

Superman    

Dude, where's my gift?!? I will take the $13,000 maximum so that you won't have to pay taxes on it.

1250 days ago
38.

Superman    

I think the good news for Nic Cage is that once he reaches a $1 million in gift taxes, then he doesn't have to pay any more as long as he lives.

1250 days ago
39.

HarryPalms    

It's guys like Nicholas Cage and Donald Trump and so forth that the IRS should dive into.

Tax the rich. Sorry, Harvey, you're in it.

1250 days ago
40.

Sonja    

Don't you pay the tax when you purchase the item, whether you gift it or not, you paid the taxes once that should be it.

1250 days ago
41.

Politico Pablo    

I thought Luxury Tax & Gift Taxes still only exist on Monolopy Board Games. It's not a tax most of us have to worry about.

1250 days ago
42.

Pat    

Tell me something, who's the thief here. It's his money, already paid the taxes on it and if he wants to give big gifts he should be able to do so without the IRS stealing it.

1250 days ago
43.

Common Sense    

I guess the IRS has auditors and Lien employees working commission

1250 days ago
44.

esq777    

There sure are a lot of geniuses on this board. The gift tax is so that people don't evade the estate tax by "gifting" their entire estate.

1250 days ago
45.

Yak    

From Wikipedia:
http://en.wikipedia.org/wiki/Gift_tax_in_the_United_States

Congress unified the gift and estate taxes limiting the giver’s ability to cir***vent the estate tax by gifting during his or her lifetime.

Transfers of a present up to $13,000 per person per year (as of 2010) are not subject to the tax.

Someone has to pay for all the wars and bailouts. Tax, tax, tax on top of tax.

1250 days ago
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