Nicolas Cage owes US government $14 mn
By IANSSunday, January 17, 2010
LONDON - Hollywood star Nicolas Cage has spoken out about his long pending tax woes, revealing he still owes $14 million to the US government.
The “Face/Off” star finds himself at the centre of a number of tax claims in recent months, with the Internal Revenue Service (IRS) making a $6.2 million demand in August last year in relation to his unpaid taxes in 2007.
TMZ.com reports, Cage is also facing other claims of unpaid taxes related to his earnings between 2002 and 2004, while he was accused of defaulting on a $2 million loan in October 2009.
“Over the course of my career I have paid at least $70 million in taxes. Unfortunately, due to a recent legal situation, another approximate $14 million is owed to the IRS. However, I am under new business management and am happy to say that I am current for 2009. All taxes will be paid, including any to-be-determined state taxes,” he said.
The actor blamed financial mismanagement for his money woes and is currently embroiled in a legal wrangle with his former business manager Samuel Levin.
The 46-year-old was hit with a $6.7 million suit on New Year’s Eve in relation to unpaid taxes in 2008 taking his total tax bill to approximately $14 million.
