Please ensure Javascript is enabled for purposes of website accessibility

Nicolas Cage’s Catastrophic Financial Situation May be Coming to End

Posted on by Caleb Newquist

God willing friends, this may mark the end of the financial tragedy that has plagued our hero for we’renotsurehowlong.

It only took putting homes from every continent, both poles, and a bungalow on the moon all on the market. He got sued by his ex-girlfiend, his former business manager and had more liens slapped on his ass than MC Hammer.

But NC is going to pay $14 million to the Service and he’s free and clear. Done. No more troubles. He’s confident this time. You know why? Because he told People about it:

While the government recently placed a tax lien on his real-estate holdings, including an additional $6.7 million from 2008, “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,” Cage tells PEOPLE in an exclusive statement. “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.”

$84 million is all it took friends and now that’s he’s got new business management, nothing like this will ever happen again. Plus, the next edition of the National Treasure franchise appears unstoppable. BACK. IN. THE. GAME.
[via the TaxProf]

Related Posts

Charlie Rangel’s Name to Appear on Tax Scofflaw Website?

charlie rangel.jpgMaybe! The State of New York remains in a fiscal crisis and is so desperate for money that apparently all ideas are being considered. According to the Daily News, the latest bright idea from Albany is to publish the top 200 businesses and the top 200 individual delinquents on the Internet apparently to shame those delinquents into paying their share.
Everybody seems to think it’s a good idea but can’t agree on who should be handling it. The State Tax Department would prefer that they put the list up themselves but legislators in Albany smell populism:

Tax officials say they oppose the law, preferring to enact the measure administratively.
Given the fiscal crunch, the state tax department has already increased its efforts to go after tax scofflaws.
The department can’t commit to creating a list until it explores the “resources we need,” particularly in a time of fiscal crisis, Burns said.
[Assemblyman William Colton (D-Brooklyn)] said he wants it done soon. “When the state desperately needs dollars to provide services to schools, hospitals and nursing homes, we don’t have time to wait,” he said. “We need to get this program implemented.”

Well played, Assemblyman. But obviously the important question is: will Rangs have to give up his rent controlled apartments? It’s important.
Expose tax cheats’ Web of deceit – pols [NYDN via TaxProf Blog]

Is the IRS Getting Worse at Collecting Taxes?

The TIGTA seems to think so. $400 billion worse.


$2.35 trillion down from $2.75 trillion. Keep in mind that one of the primary responsibilities of the Service is to…collect taxes!

Sure, you can blame the economy but everybody does that. From the sounds of it, you’ve got plenty of guns, so what the hell is the problem? Or here’s an idea, ask the people in the South to pitch in a little bit.

Last Year Was a Very Unfortunate One to Be Wealthy and French, Even By French Standards

More than 8,000 French households' tax bills topped 100 percent of their income last year, […]