Nicolas Cage - Nicolas Cage Owes Gift Taxes To Irs

0
0
Subscribe to Nicolas Cage alerts

Nicolas Cage reportedly owes over $620,000 in unpaid gift taxes.

The 'Drive Angry' star is alleged to have given a total of $1.8 million to various people between 2004 and 2009, but did not pay the required taxes, according to the Internal Revenue Service (IRS).

Gossip website TMZ obtained a federal tax lien filed against Cage in Los Angeles County on March 17 which states the Hollywood actor owes $624,934.64 for his donations.

Under federal tax laws a 35 per cent tax must be paid by the giver on any large cash gifts.

In 2009, it was revealed Cage owed $14 million in unpaid taxes and fees for the years 2002, 2003, 2004 and 2007.

In December 2010, the 47-year-old Hollywood actor made a $360,545 tax payment to the US government to cover owed back taxes from 2002 to 2004.

Cage has claimed he was led "down a path of financial ruin" by his former business manager Samuel Levin, who he sued for $20 million.

He filed the lawsuit against Levin in October 2009, claiming his ex-employee had caused him "catastrophic losses" by making bad investments but dropped the case in September 2010 after allegedly agreeing to Settle out of court.

The actor has been beset by financial problems in recent months and in October 2010 he was ordered to pay over $2 million to the Nevada State Bank.

He owed $2,511,605.74 because of a loan he defaulted on, as well as unpaid taxes, legal costs and lawyer's fees after his Las Vegas home was repossessed last year.


Contactmusic

Tags: Nicolas Cage - Las Vegas - Settle

0
0
Subscribe to Nicolas Cage alerts
Advertisement

More Nicolas Cage

Nicolas Cage Explains Why He Feels "Isolated And Misunderstood" By Many Film Critics

There is no doubt that a mystique has always surrounded the life of Nicolas Cage, and this can be seen translated into his movie career...

Sean Bean's Drunken Nicolas Cage Story Just Won The Internet

Sean Bean's Reddit AMA was bobbing along rather uneventfully this afternoon, with the British actor fielding queries about his new TNT show Legends - and...

'Joe' Is A Reminder That Nicolas Cage is a Great Actor

There are all kinds of theories about Nicolas Cage's acting style, usually centred on whether he has insane hair or not (he usually does). But...

Joe Movie Review

Nicolas Cage gives a rare internalised performance in this atmospheric drama, which has a stronger sense of its location than it does of its story....

Advertisement

Rage Movie Review

Nicolas Cage acts his socks off in this thinly plotted thriller, which is set in the same moral universe as the Taken movies, where mass...

Nicolas Cage Wears Nicolas Cage Meme T-Shirt To Guns N' Roses Concert

In what may be our favourite Instagram post of all time, rock band Guns N’ Roses have shared an image of Nicolas Cage…wearing Nicolas Cage....

Nicolas Cage's Nicolas Cage-Themed Outfit Just Raised The Bar For Hipsters Everywhere

Ironic shirts with Nicolas Cage’s face are apparently a thing now, so the actor is taking it to another level. How about Nick Cage wearing...

Nicolas Cage Wears His Own Meme As T-Shirt, Internet Applauds

Praise Nicolas Cage. The actor is ridiculed on a daily basis thanks to his face's seemingly endless compatibility with just about every meme. However, at...

Advertisement

Comments

Nicolas Cage Newsletter

Subscribe to this news alert service to receive news and reviews on Nicolas Cage

Unsubscribe | Unsubscribe All