Nicolas Cage Tax Debt: Actor Pays Off $600,000 Debt in a Year with Constant Acting Gigs, $6 Million More to Go

By Mstarz reporter | Nov 19, 2012 01:39 PM EST
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Nicolas Cage
(Photo : Reuters) Nicholas Cage pays off $600,000+ tax debt, $6 million more to go.

Actor Nicolas Cage is busy at work pursing acting gig over acting gig - and the 48-year-old's persistent work ethic has helped him pay off all of his $624,934.64 2011 tax debt! According to TMZ, the IRS slapped Cage with a whopping federal tax lien back in 2011... apparently the Academy Award-winning actor forgot to keep track of all the lavish and expensive gifts he was constantly handing out to family and friends from 2004-2009. But Cage won't let the IRS drag him down - he managed to pay off his outstanding 2011 debt IN FULL in less than a year's time! Maybe it's because along with a number of smaller side projects, Cage starred in a total of 13 major films from 2009-2012, with many more to come in 2013! But Cage isn't totally off the hook yet, he still owes over $6 million in debt...

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Along with finally paying back the over $600k Cage owed to the IRS, reports confirm he also managed to pay back over $6 million for a federal income tax debt back in 2007. However, he still owes over $6 million to Uncle Sam (just what were those gifts he bought for friends and fam!). So looks like Cage isn't totally out of the woods, but he is slowly and surely getting there.

Out of the numerous films Cage has starred in over the past few years, some stand-out hits include "Kick-Ass," "National Treasure: Book of Secrets," "G-Force," "The Sorcerer's Apprentice," and "Ghost Rider: Spirit of Vengeance." And coming in 2013 - "The Croods," "Frank or Francis, "The Emcee," "Joe," and "The Expendables 3." Oh, and rumors also have it that "Kick-Ass 2" and "National Treasure 3" are also in the works.

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