Actor Nicolas Cage said he plans to pay the IRS about $14 million in back taxes.
The IRS filed a tax lien for over $6.2 million against Cage in July (see Nicolas Cage Hit with $6.2 Million Tax Lien). More recently, the IRS filed an additional tax lien for $6.7 million for his 2008 taxes.
The actor has been selling off his mansions and other property around the world in an effort to pay off the tax lien. Cage has also sued his ex-manager and accountant, Samuel Levin, accusing Levin of making poor investment choices in risky real estate and failing to pay the actors taxes, leading him down a path toward financial ruin (see Nicolas Cage Sues Ex-Manager for Not Paying His Taxes). Levin, in turn, has countersued Cage and claimed that he tried to warn the actor against his compulsive, destructive spending, and encouraged him to sell off a dozen automobiles and a $1.6 million comic book collection.
Cage said last Friday that he is getting current with his tax debts. Over the course of my career I have paid at least $70 million in taxes, he told People.com in a statement. 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.
