Nicolas Cage will pay IRS $14 million

[Cirque du So-What]

(PEOPLE.com) -- Nicolas Cage is determined to get his financial house in order and to pay the IRS all that he owes in back taxes.

While the government recently placed a tax lien on his real-estate holdings, including an additional $6.7 million from 2008, "over the course of my career I have paid at least $70 million in taxes, unfortunately, due to a recent legal situation, another approximate $14 million is owed to the IRS," Cage told PEOPLE in an exclusive statement.

"However, I am under new business management and am happy to say that I am current for 2009, all taxes will be paid including any to be determined state taxes."

Cage will next be seen in the thriller "Season of the Witch" in March.

http://www.cnn.com/2010/SHOWBIZ/01/18/nic.cage.pays.irs/index.html?eref=rss_showbiz&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_showbiz+%28RSS%3A+Entertainment%29

I don't know the specifics of Cage's tax problems, but I get the impression that he trusted his financial affairs to less-than-scrupulous accountants who tried to circumvent the law with dicey schemes.

It appears that F. Scott Fitzgerald was onto something when he observed that the rich are not like you & me. Millions of people with modest incomes pay their taxes without giving a moment's consideration to attempt defrauding the government out of revenue. Lots of people who earn 7- and 8-figure incomes follow their greed into illegal tax dodges, however. It's as though the money poisons their judgment. Do they believe that they're no longer subject to the rules of society that mere mortals must obey? Are they now entitled to even more favorable treatment than they're already realizing? I don't 'get' that attitude. Historically, the rich would at least give a nod toward noblesse oblige, but nowadays they wear their contempt for the hoi polloi in a shameless way that would make Marie Antoinette blush.

But I digress.

As I said, I'm not familiar with the details of how Cage found himself in such a pickle. I'll give the benefit of the doubt until the whole story emerges, but if he intentionally tried to avoid taxes through phony tax shelters or other illegal means, then my respect for him will drop like a stone. Perhaps it's possible that he didn't know that the management company was doing anything illegal, but I'm skeptical. Regardless, I hope Cage has learned a lesson and doesn't ever again try to weasel his way out of paying taxes, which I consider the price of civilization.

[Captain Hilts]

1. If so, the accountants can do slammer time. nt

[flvegan]

2. As I understand it, he bought an absolute shitpile of real estate.

At the wrong time, so to speak. And I don't think he was properly advised.

[timeforpeace]

3. Excellent.

[ncteechur]

4. sounds like he needs Ronnie Deutsch

[Canuckistanian]

6. Oh, God

Ronny Deutsch is only for people who have a high tolerance for nails screeching on blackboards.

[amerikat]

5. In his next movie "He will steal his own tax records"

It will be called "My National Treasure". He will play himself and
it will be a documentary. Just a thought.

[endless october]

7. sounds like he has done the right thing.

from what i've read, he got screwed by accountants.

i like his acting. i think he can bounce back from this with a couple good movies.

[izquierdista]

8. Weasel his way out?

:wtf:

Do you really think he does any more than sign the form where his accountant tells him to? His biography does say that he dropped out of high school, and that is an important part of the story. This may be a blessing in disguise, since now he will be able to get rid of the people swindling him. Your first impression is probably right in this case.

[Prometheus Bound]

9. Pays for less than one hour in Iraq.

[ashling]

10. He "forgot" to declare all of the

treasure from underneath Mt. Rushmore






:rofl: