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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

No Avatar
46.

Yak    

TMZ censors the word cir***vent? MORONS!

1232 days ago
47.

HarryPalms    

Yak: TMZ may be on the way to becoming another Huffington Post, where even the most decent of words was banned

1232 days ago
48.

ghfghfg    

what a stupid move. Just to seem "super rich" ... Nice friend

1232 days ago
49.

Superman    

Oops, I had it backwards. It's a lifetime gift-tax EXEMPTION cap. The exemption cap was $1 million, but, for 2011 and 2012, it's $5 million. So, if the IRS is going after the full $1.8 million in gifts, then Nic Cage must have already maxed-out on his gift-tax exemptions. Unless Congress makes the current estate-tax law permanent (extremely unlikely), then the lifetime gift-tax exemption will go back to $1 million in 2013 and the gift-tax will be 45%.

1232 days ago
50.

Loving Monterey    

Nic Cage makes me sick! So does Wesley Snipes, Wille Nelson and all of the other actors who owe taxes and fight the government on what they owe.

Ozzie and Sharon Osborne were told that a mistake was made on their taxes and they immediately paid! Immediately! Sharon offered an apology and said that there was no excuse for it.

Nic Cage and the rest should be made to pay up or go right to jail. The regular citizen like me would be charged late fees and would be made to suffer.

Make the elite suffer too!

1232 days ago
51.

GARY    

SCREW THAT THE MONEY WAS ALREADY TAXED INCOME. WHEN ARE PEOPLE GOING TO WAKE UP AND FIGHT THIS KIND OF BULL@#%.

1232 days ago
52.

Mother Nature    

Maybe the IRS should consider going after Goldman Sachs, or GE instead.

1232 days ago
53.

Joe d     

He'll owe no taxes. Lifetime exemption. You should know that Harvey. Need I remind you your a lawyer.

1232 days ago
54.

Tim    

I don't understand why you must pay taxes on money you have given away, as you've already paid taxes on the money as income. It's just the IRS screwing people. I'll bet the people who have received the money gifts must also pay taxes on that money. That means that the IRS collects taxes on the same money three times. What a scam. Too bad for Cage. He is one of my favorite actors.

1232 days ago
55.

Kathy of Malibu    

I love Nicolas Cage's acting - he is stressed out and needs
his fan's help love and support during this time.
Let's send him our love!

1232 days ago
56.

Michael Ratledge    

You have to pay taxes on gift(s) to any one person in excess of $10,000 per year. It has been that way for quite some time, now.

1232 days ago
57.

john    

If this doesn't make you sick then all I have to say is YOU ARE A LOUSY FRICKIN IDIOT!!!! This is a prime and perfect example of what a sick, sad and worthless govt. we have here that "is supposed to represent us" NOT RAM IT HOME AT 90 MPH TEARING INTO OUR CHUTE!!!! At every opportunity uncle sham literally robs us the American citizen out of any and everything possible w/o causing a full scale revolution and if they aren't careful this place is going to become like egypt where everyone goes apesh&t and rebels against a tyrannical regime which is exactly what we have here!! It' a maggot in seeps clothing instead of the old wolf, because these mangy aszholes feed on the living and the dead!!! WE AS CITIZENS SHOULD "NEVER, ABSOLUTELY NEVER HAVE TO PAY ANYTHING EVEN REMOTELY CLOSE TO WHAT NIC CAGE HAS HAD TO DEAL WITH!!! WHAT ABOUT ALL THESE HUGE OIL COMPANIES AND ANY OTHER BIG BUSINESS THAT'S FORGIVEN THE TAXES OWED BY THEM BY WAY OF PRESIDEBTIAL OR CONGRESSIONAL PARDON ON ACCOUNT OF HOW THE POOR DEARS ALREADY PAY OUT AND LOSE SOOO MUCH ALREADY?! tHE DIFFERENCE IS THERE'S HE OLD PAYOLLA GOING ON "ALWAYS BEHIND CLOSED DOORS" AND THESE FILTHY SLIMES OF SO-CALLED PEOPLE ANSWER TO NO ONE!!! WE NEED TO HAVE "OUR AMERICA" TAKEN BACK AND TELL uncle sham AND ALL OF HIS MANGY CRONIES TO SHOVE THEIR LOUSY LAWS AND DEMANDS SO FAR UP THEIR AZZES THAT THEY NEED A BACKHOE TO DIG THEM OUT!!! IT MAKES ME SICK HOW AN INVISIBLE ENTITY CAN TREAT US AND DO TO US AS THEY DAMN WELL PLEASE ALL WITH the president STANDING THERE WITH HIS HANDS UP SAYING, UHHH DUHHH THERE'S NOTHING I CAN DO, THE irs IS A SEPERATE ENTITY APART FROM uncle f'n sham himself!! ^&%%#@

1231 days ago
58.

Greg    

People are freaking out like you have to pay an extra tax on gifts. The reason you pay a "gift tax" is because you don't count that money in your income at the end of the year. He states that he made $60...0k less because he gave it away. Well, you can't just hide income like that.

1231 days ago
59.

taxes     

screw the IRS the sorry ass blood sucker -lit them eat s-ck and die you pay to earn it to save it and now to give it away. the US is going to the dogs - has your property taxes gone down yet?
as of today property alue drop in value 44% 2005 to 2011. check it out .
Gas 10 cent a gallon off if you buy 100 dollars - should be 10% off per gal of gas what is 10 cents - nothing scams and games- look up you home value at your state comprtollers web site property assessment and start appealing today .......

1231 days ago
60.

Geoff    

Insane.......you have to pay taxes on generosity. Then those on the receiving end, if they are honest, have to pay taxes on the gift. Our Government will get you one way or another. If you have anything, they want their cut.

1006 days ago
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