Monday, October 12, 2009

Cage Owes $6,617,550.84 in Tax Debts

Earlier in the year I put together list of the 5 biggest celebrity tax evaders of 2009, and although Nicolas Cage was already at the top of my list, recent reports have emerged claiming that he owes more then everyone had originally thought. According to TMZ, in addition to the $6,257,005 he owed in unpaid taxes from 2007, he also owed for the following tax years.

2002 -- $70,190.05

2003 -- $179,738.23

2004 -- $110,617.56

That brings his total tax debt to an astounding $6,617,550.84. Associated Content also claims that Cage owes another $2 million to the East West Bank. With all the money he makes form his films, many are wondering how Cage could get into such a financial mess. Well, blame the real estate industry. He reportedly owns dozens of properties across the United States and Europe, including an 11th century German castle called Schloss Neidstein that he recently sold. However, with real estate values down all across the world Cage is reportedly having difficulty selling his properties to repay his debts.

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