Nicolas Cage Beleaguered By IRS Again
Actor Nicolas Cage has been targeted by the International Revenue Service (IRS) again for failing to pay taxes on gifts he issued over the last seven years.
The IRS filed a federal tax lien against the National Treasure star on March 17th in Los Angeles for neglecting to pay the required 35 per cent tax on all large gifts. The document, obtained by TMZ.com, reveals Cage gave away roughly $1.8 million worth of gifts since 2004 and reportedly owes the government just over $600,000 in unpaid taxes.
In 2009, it was reported the movie star owed $14 million to the IRS after receiving demands for tax on his income from 2002 to 2004 and 2007.
The scandal prompted Cage to file suit against his former business manager, Samuel Levin, accusing the accountant of misleading him and overcharging for his services, sending him "down a path of financial ruin."
Levin countersued, alleging Cage squandered his cash on lavish homes and luxury cars and was to blame for his own financial missteps. The legal dispute was settled in August.
By the end of 2010, Cage had begun making amends with the IRS and, according to documents obtained by TMZ.com, the actor had made three big repayments by November 10th, totaling $360,545.