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Nicolas Cage Selling His Homes to Pay Tax Debt

Posted: August 4th, 2009 by WorstPreviews.com Staff
Nicolas Cage Selling His Homes to Pay Tax DebtSubmit Comment
US tax officials have accused Nicolas Cage (National Treasure) of failing to keep up with his taxes in 2007, and as a result, they are now requesting that the actor pays the $6 million he owes to the government.

The IRS has taken its case to a court in Louisiana, where Cage is now desperately trying to sell his $3.5 million home as a way to recoup some cash. He is also selling his $35 million Hollywood mansion.

It's not the star's first trouble with the IRS. Back in September of 2008 he agreed to pay over $660,000 in interest in back taxes, following allegations of improperly deducted personal expenses.

Source: Detroit News


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Displaying 48 comment(s) Profanity: Turn On
Sev writes:
on August 4th, 2009 at 6:19:16 AM

I'm sorry but how the f*ck do these muppets fall behind on this crap? What, they can't hire an accountant yearly to sort all that out? Christ!
telur writes:
on August 4th, 2009 at 6:20:52 AM

so if studio pay you 20 million dollar you should talk only pay 5 million dollar because the tax is big
lost_addict writes:
on August 4th, 2009 at 6:44:34 AM

man,those hair pieces must be really expensive...
SACdaddy writes:
on August 4th, 2009 at 9:07:27 AM

Ok, now everything is starting to make sense. I always wondered why Cage was taking so many roles without discretion. Dude is broke or at least has sh*tty accountants. $35 mill for a house! This guy is Bangkok Dangerous with a credit card!
theghost writes:
on August 4th, 2009 at 10:09:32 AM

@lost addict. ... lol!!
Kid_A writes:
on August 4th, 2009 at 10:28:37 AM

When you become a celebrity and earn way more than you deserve, later you are forced to pay more. I'm not saying Cage is a bad actor and earns more than he deserves, but it seems that he paid more enough than he could - 35 million dollars, man! Of course he has to play in three or four movies a year; to overcome the bills. Good that he still costs money to play in a movie, think about MJ; he had to pay like 500 million dollars! It's good Cage's bills are only 35 million and 3.5 million dollars.
braad23 writes:
on August 4th, 2009 at 10:31:50 AM

f*ck the Taxman!
Osiris3eagle writes:
on August 4th, 2009 at 10:59:15 AM

Amazing that this happens...you would think celebrities would hire an accountant to handle their money and taxes, but that would be too smart.

I'd also like to declare Telur WorstPreviews' official retard. Every one of his posts is incoherent, grammatically f*cked, and just plain stupid. Even if English isn't his first language, he should know its so bad that its better to not comment at all rather then look like an idiot.
SpookyCupcakes writes:
on August 4th, 2009 at 11:19:08 AM

"Homes"

f*ckING MORE THAN ONE.

YOU CAN ONLY BE IN ONE AT A f*ckING TIME, SO WHY HAVE MORE THAN ONE?!

f*ck, good. Cage deserves it.
VDODSON writes:
on August 4th, 2009 at 11:38:41 AM

Telur is a female, and I welcome her to the worst preview community. I for one am not fluent in another language, so I can not approve of the insult above. Best of luck in your studies.
Ranger writes:
on August 4th, 2009 at 11:41:00 AM

I don't know where his money went. He bought a house years ago for $7mil... then sold it afterwards for $17mil. And if he's been paying all along like he should... he'd never get behind like this.

@telur - taxes can be avoided almost completely (legally). That's why you see most of the Actors own production companies to write stuff off. This is just bad accounting on Cage's part, and poor business planning.
tcu21 writes:
on August 4th, 2009 at 11:41:55 AM

dude used to own a freakin castle. No surprise he owes this much.

Sounds like he'll be able to repay it pretty easily though, he's got a home in like every country.
i3u7n5 writes:
on August 4th, 2009 at 11:45:16 AM

"It's not the star's first trouble with the IRS."

Repeeeeat O-ffender! Not a pretty name, is it, Hi?

No Sir, it sure ain't. That's one bonehead name....But that ain't me mo more...
Ranger writes:
on August 4th, 2009 at 11:51:08 AM

3 things to looks for when buying Real Estate:

Death.
Divorce.
Destitution.

I'll take door #3 Mr. Coppola!
ACTIONFIGURE writes:
on August 4th, 2009 at 11:51:25 AM

6 MILLION?? That will set his ass back a couple of hair pieces. Maybe it will keep him from trying to f*ck up the 3rd Batman.
SACdaddy writes:
on August 4th, 2009 at 12:05:06 PM

@i3u7n5: Nice!
TURN TO THE RIGHT!
Ranger writes:
on August 4th, 2009 at 12:40:28 PM

Nick, Nick... he's built like a stick!
He's a prick!
He's a hick!
He's a d*ck!
He done went broke... really quick!

Stephen Baldwin? Wesley Snipes? What's their number?! I wanna gripe!

Pay yo taxes chum! Otherwise you're shark food in prison, and they'll feed from yo bum!

I wish I still had hair.
I wish I still had my wallet.
f*ck me... I may not survive this fallout!

For me... reality shows? More talk shows?
No where did I spend my money?
Easy come... but there it goes!
Ranger writes:
on August 4th, 2009 at 12:44:02 PM

Damn-it! I just hurt my neck brake-dancing!
Ranger writes:
on August 4th, 2009 at 12:46:00 PM

Kinda of a: poetic, limerick, rap, Haiku kind of a thing I had goin' there.
Ranger writes:
on August 4th, 2009 at 12:49:34 PM

Crap really.
ACTIONFIGURE writes:
on August 4th, 2009 at 1:06:08 PM

Ranger-u talkin to urself again??
Ranger writes:
on August 4th, 2009 at 1:09:41 PM

I think so! DAMN Meds!!!
Bob82 writes:
on August 4th, 2009 at 1:37:21 PM

HAHAHAHAHA

Why that photo, why?! So cruel...
Charlie9 writes:
on August 4th, 2009 at 2:42:29 PM

On any other day that might seem strange.
ACTIONFIGURE writes:
on August 4th, 2009 at 3:03:38 PM

Meds...or the lack there of...
Osiris3eagle writes:
on August 4th, 2009 at 3:07:28 PM

VDodson:
Does matter that Telur is a chick, her english is brutal. Oh and being fluent in another language means you can speak it as well as the natives of the language. I haven't read one sentence from her that makes any sense. One more thing V...quit imagining her as some hot foreign chick who's going to blow you for backing her up.
borat writes:
on August 4th, 2009 at 4:26:51 PM

yeah why do these asshats not pay their taxes
Rich k writes:
on August 4th, 2009 at 4:29:59 PM

it looks like somebody has some money problems. i figured he would be rolling in the money with all those awesome movies hes been doing lately (total sarcasim)
acslaterson writes:
on August 4th, 2009 at 4:48:33 PM

You own a $35 million mansion and you need more then one house? Excess like that disgusts me.
FBO writes:
on August 4th, 2009 at 8:10:04 PM

Instead of going after the middle class Obama should tax these idiots. That way he wouldn't have to rise taxes just make hollywood pay the taxes they already owe. 10 million dollars a movie and they can't afford a CPA?
Captain Rogaine writes:
on August 4th, 2009 at 10:00:32 PM

I like that they have to add (National Treasure) in like we all don't know who this half ass actor is. He's only in eight movies a year which are all advertised every thirty two seconds and all are complete dung droppings.

This just happened last year to? Wow in the words of our Former President. "Fool me once, shame on shame on you. Fool me you can't get fooled again."
minkowski writes:
on August 4th, 2009 at 10:17:23 PM

"You own a $35 million mansion and you need more then one house? Excess like that disgusts me. "

Probably wouldn't disgust you, if you were the one with the all the money.
acslaterson writes:
on August 4th, 2009 at 10:43:49 PM

If I had that type of money I wouldn't be retarded with it. Who the hell needs a castle? Who needs a $35 million dollar mansion when, last time I saw, he was single? A $3.5 million home in Louisiana? Why? I was a single guy with that type of money I would have one decent sized house and a penthouse or a nice condo if I wanted houses anywhere else. Spending money like Cage did is f*cking retarded.
Ranger writes:
on August 4th, 2009 at 10:54:55 PM

Hard to judge a guy in his shoes my friend. He has the money... he's earned it. Excess for you may differ than his version. He just got ahead of himself on his credit like most people do... it's just he's on a different scale. If you don't have that kind of money... it's hard to say what one would do. I know of a guy that spent $55,000. (US) on lunch for 4 (yep... it was the wine). He spent $350K one year on his wine collection. His home shows up on Google Earth, and has had 27 different sports cars in 7 years. And spent 1/4 mil. on his triplets sweet 16 party in Vegas. I just think... good for him. He's earned it.
Ranger writes:
on August 4th, 2009 at 10:55:46 PM

NO ONE 'needs' a castle. Cage 'wanted' one. I don't have a problem with that.
Ranger writes:
on August 4th, 2009 at 10:58:15 PM

Simon Cowell has (I think) 6 or 8 homes. He makes $75 mil. a year... and (as he says) Real Estate is a great investment. I myself have made a few bucks on the same market. It beats RRSP's, any funds (managed by others... ugh!). Nick was just 'parking his money.' And you WANT that BIG stuff when you're single... what better time?
acslaterson writes:
on August 4th, 2009 at 11:03:41 PM

I don't know, when you have to try to sell 2 houses at once to pay taxes, it seems like you got WAY ahead of yourself. I don't know, maybe it is because I am fiscally responsible that I don't see how people get over extended like that.
Ranger writes:
on August 4th, 2009 at 11:09:58 PM

Well... these celebs, I DO feel for them sometimes. I sold (let's see) 4 properties in one year (no taxes due... just wanted to sell them). Had 7 years of (back) write-offs to use... paid (if memory serves) around $200. in taxes... LOL (of course the Accountant butt-f*cked me for an $8000. bill...lol). But I did only have to pay $200. on taxes. Nick just needs to watch things better. Find a better Accountant.

Remember when David Bowie's Accountant stole $10mil. from over 100 bank accountants? I thought back then... HOW COULD YOU MISS $10MIL?!?! Then I later learned that Bowie was a billionaire... so $10mil over 100 accounts is easy(ier) to lose track of.

sh*t happens my friend. Nick has entertained me in some of his movies. I hope he pulls out of this. Tough times though. Even though there are people that can afford his $35mil house... it's tougher to get your money in this market. And the more expensive the property... the more scare are those buyers, and when you find one... they're VERY particular.
Ranger writes:
on August 4th, 2009 at 11:13:04 PM

Re: my first line from my last post. I feel for the celebs because some stuff just shouldn't be made public. I mean... were I on tough times... no one would care. People build up these stars... but love to see them fall. Trump does a charity... page 30. Trump in financial trouble... Page 1. I mean, Snipes, Tucker, Cage don't know my finances... why should I know about theirs. And the cops doing the 2005 raid on Neverland Ranch... Cop on the podium announcing the Warrant on TV. When cops come for me... no news... sniffle...
Ranger writes:
on August 4th, 2009 at 11:19:38 PM

Anyone else see those pics of that yacht (hell... SHIP) called the Octopus custom built for the 2nd. in command (Allen?) of Microsoft? $100 million to build and 10% of that cost PER YEAR for operating expenses. Submarine bays (2 subs), ex-SEALS to guard the ship... I mean... just NUTS this vessel!!! Now... does someone 'need' that... or did he just 'want' that? Want, I gather. Kudos for him. He earned it. But Google up the pics on that ship. Incredible! 7 months 'maintenance' on that ship would pay Cage's tax problem off... lol.
Ranger writes:
on August 4th, 2009 at 11:30:15 PM

Sorry... $200mil for that ship. Google: Paul Allen+Octopus
telur writes:
on August 5th, 2009 at 1:05:07 AM

@VDODSON & Osiris3eagle

are both of you guy?
minkowski writes:
on August 5th, 2009 at 2:12:08 AM

Well, I for one agree with ya ranger.
Ranger writes:
on August 5th, 2009 at 2:50:05 AM

Thx. Mink.

@acslaterson - I'm not opposing ANY of your thoughts/opinions. I believe you're correct. Clearly Nick has gotten over his head. But were I better off than he, to quote the immortal Freddie Mercury: 'I'm a greedy Bitch!' - I'd be the first one here off writing a check for a $35mil. house that I certainly didn't need... lol.
VDODSON writes:
on August 5th, 2009 at 5:25:37 AM

Yes, I believe we are both guys.
telur writes:
on August 6th, 2009 at 1:53:30 AM

^
a gay too?

:D :D :D :D :D
TRUEMAN writes:
on August 11th, 2009 at 12:07:30 PM

hahahahah
hahahahah
hahahahah : ) pay the tax mother f*cker pay and pay!
hahahahaha
hahhaahaha
hahahahaha
FFitton writes:
on August 11th, 2009 at 3:10:22 PM

It seems amazing to me that Nicolas Cage is facing this tax bill right now. Firstly because its his second time in trouble with them in less than a year, you'd think he'd learn the lesson the first time....Don't mess with the IRS.

Secondly, the guy makes $12 million per film, you'd think he could easily come up with the $6 million and change to satisfy the IRS. Could there be problems we don't know about. Drugs? Gambling? Madoff?

Check out my blog on Nick Cage and his IRS problems at..... http://www.thedebtgazette.com/2009/08/nick-cage-irs-again/

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