Cage's Tax Woes

11 October 2009
Nicolas Cage

Picture: Nicolas Cage at a press conference for the film ''Bad Lieutenant' during the Toronto Film Festival. Toronto, Canada - 16.09.09

Cage's Tax Woes

Nicolas Cage is facing more financial woes amid reports the actor owes over $6 million (£4 million) in unpaid taxes.

The Internal Revenue Service (IRS) has placed a tax lien on Cage's vast real-estate holdings after he failed to pay income tax totaling $6.26 milion (£4.2 million) on his wages dating back to 2007, according to the New York Post.

The Gone In 60 Seconds star also reportedly owes an additional $360,000 (GBP240,000) in unpaid taxes related to his earnings between 2002 and 2004.

Just last week (begs05Oct09) reports emerged that the 45-year-old had defaulted on a $2 million (£1.3million) loan.

Cage made efforts to cutback on his property empire earlier this year (09). He listed his New Orleans mansion for $3.7 million (£2.6 million) shortly after selling off a Bavarian castle he owned in Germany amid reports of financial troubles.


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