It's hard to feel any sympathy for celebrities who land up in hot water with the IRS for violating the taxation law. But Nicholas Cage is not one of those celebs. He has paid over $70 million to the IRS over the course of his acting career, but is still in a lot of trouble, caught between a rock and the spirit of vengeance, so to speak.
He owed the IRS $14 million in back taxes, and that was just for 2007. After just having paid $6.25 million, Cage still owes a whopping $7 million in taxes.
Fast forward a couple of years to 2009 and the situation gets a whole lot worse, The IRS foreclosed on four of his properties. Two homes in New Orleans got auctioned for $6.8 million while his LA home went for $10.5 million. Another property in Vegas bagged nearly $5 million. On top of all this, Cage had to dispose off a castle he owned in Germany.
At the end of the day, though, Cage is all clear for 2009 and has just $7 million left in back taxes. Where does a lawsuit figure in all this? That would be Cage suing his manager Samuel Levin for $20 million for not paying taxes and for making risky investments.
Cage was also at the receiving end of a $13 million lawsuit filed by former girlfriend Christina Fulton who accused the Ghost Rider star of not abiding by his commitment to transfer the couple's home into her name.
Granted there's a Hollywood element and the amounts and numbers of properties are astronomical. But micro-size this story and it might fit just about anyone with a decent income who is in trouble with the IRS. It's a package deal – bad management leads to IRS audits, tax liens, debts, property foreclosures and asset fire-sales, which in turn lead to domestic problems and divorce.