Nicolas Cage: Tax Debt Chipped Away, 12 Films Due Out Soon
Nicolas Cage was faced with some mounting debt when he was hit with a massive tax lien for gifts to friends and family over a period of five years; he has only just been able to pay off around $600,000 worth of tax debt, bringing his balance owed to somewhere around $6 million.
Cage has been battling his financial woes since at least this past spring, when the IRS hit him with the lien. But according to IMDB, he has twelve–count them, TWELVE–projects due out between now and 2014, including a third “National Treasure” film. Considering the mountain of cash he needs in order to get straight with the IRS, it doesn’t look like he’ll be stopping anytime soon.
Cage can take comfort in the fact that he’s not the only celebrity faced with mega-debt; footballer Michael Vick blew through $30 million in order to pay off taxes, bills, and lawyers after his dog-fighting legal troubles.