Nicolas Cage - Cage Starts Paying Back Taxes Owed
Actor NICOLAS CAGE is making gradual progress in his bid to settle a hefty tax debt - he's managed to pay off $360,545 (£240,363) of the $14 million (£9.3 million) he owes to America's Internal Revenue Service (IRS).
The extent of the National Treasure star's money troubles hit the headlines last year (09) when he filed suit against his former business manager, Samuel Levin, accusing the accountant of misleading him and overcharging for his services, sending him "down a path of financial ruin".
The allegations stemmed from a series of tax liens Cage received from IRS officials, claiming he had failed to pay tax on wages from 2002 to 2004 and 2007.
Levin countersued, alleging Cage squandered his cash on lavish homes and luxury cars and was to blame for his own financial missteps. The legal dispute was settled in August (10).
However, Cage has finally begun making amends with the IRS and, according to documents obtained by TMZ.com, the actor had made three big repayments by 10 November (10), totalling $360,545.