Nicolas Cage Pays IRS $6.25M in Back Taxes

by Angela Nazworth | April 5, 2012 9:45 am

Whether you think he’s overrated or love every one of the bazillion movies he’s made, no one can deny that actor Nicolas Cage has been a box-office draw for decades. And ┬áCage needs that to continue, considering he still owes the IRS[1] a hefty chunk of change.

According to documents obtained by E! News[2], the 48-year-old celeb shelled out a little more than $6.25 million toward his enormous IRS bill, which is reported to be in the ballpark of $14 million. At least that’s how much Cage told[3] People he owed in 2010. The actor blamed his tax predicament on bad management and also said that he had paid more than $70 million in taxes over the course of his career.

Financially, the past few years have been rough[4] for Cage who has been saddled with big debt and a few tax liens. Three of his homes, including one of his two castles, were sold at foreclosure auctions. Last June, Cage settled a $13 million lawsuit with ex-girlfriend Christina Fulton.

Cage isn’t the only celebrity who has been struggling financially. Former NBA stars Allen Iverson and Dennis Rodman are facing hard times due to some bad business decisions. Iverson recently declared bankruptcy[5], and Rodman owes more than $800,000[6] in child support.

Endnotes:
  1. he still owes the IRS: http://www.tmz.com/2012/04/04/nic-cage-tax-irs-6-million/#.T32Y4NW8qF9
  2. documents obtained by E! News: http://www.eonline.com/static/news/pdf/CageTaxes.pdf
  3. Cage told: http://www.people.com/people/article/0,,20337324,00.html
  4. the past few years have been rough: http://www.ontheredcarpet.com/Nicolas-Cage-pays-6-25-million-in-back-taxes--still-owes-IRS/8608581
  5. recently declared bankruptcy: http://investorplace.com/2012/02/allen-iverson-celebrity-bankruptcy/
  6. owes more than $800,000: http://investorplace.com/2012/03/dennis-rodman-sick-and-broke/

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