Nicolas Cage, one of the highest paid actors in the industry, has been in some serious trouble with the IRS. It is rumored that Nicolas Cage owes over $6 million in back taxes. Nicolas Cage claims that over the course of his career he has paid a tax of at least $70 million. But due to a recent legal situation, another approximate $14 million is owed by him to the IRS.
Nicolas Cage holds his manager responsible for the money he owes. The matter between him and his manager was taken to court, with one accusing the other of not handling finances accordingly. The manager claims that Nicolas Cage was spending far more money than he could make. Nicolas Cage has new management now. The first thing on his agenda is to make sure his entire debt is settled once and for all.
Cage has built a reputation for his extravagant spending habits. He has spent loads of money on cars, diamond jewelry, yachts, castles and even a collection of shrunken heads and dinosaur skulls.
Nicolas Cage has three movies scheduled for a 2010 release. These include Kick-Ass, The Sorcerer’s Apprentice, and Season of the Witch.