Nicolas Cage has paid off $600,000 towards his massive tax debt. The actor is slowly paying back the $13 million he owes in back taxes after splurging on extortionate purchases between 2004 and 2009, TMZ is reporting. However, he still owes about $6 million thanks to his love of expensive gadgets, despite already paying off $6,257,005 in April. The actor filed a lawsuit against his former business manager Sam Levin in 2009 claiming he had led him 'down a path of financial ruin'. Nicolas once splashed out $276,000 on a 67-million-year-old dinosaur skull, outbidding Leonardo DiCaprio to get his hands on the unique prehistoric artefact. He also owns a jet, two yachts, three castles, two islands in the Bahamas...
- 11/19/2012
- Monsters and Critics
Nicolas Cage has settled $6 million of his tax debt. The 'Ghost Rider: Spirit of Vengeance' actor has cleared almost half of the $13.3 million debt he owes for taxes in 2002 to 2004 and 2007 after he paid off $6,257,005. Nicolas has blamed his former business manager Sam Levin for his problems, though he has countered this, claiming actor was overspending. He said in 2010: ''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 Internal Revenue Service (IRS),...
- 4/4/2012
- Virgin Media - Celebrity
Nicolas Cage has settled $6 million of his tax debt. The 'Ghost Rider: Spirit of Vengeance' actor has cleared almost half of the $13.3 million debt he owes for taxes in 2002 to 2004 and 2007 after he paid off $6,257,005. Nicolas has blamed his former business manager Sam Levin for his problems, though he has countered this, claiming actor was overspending. He said in 2010: '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 Internal Revenue Service (IRS), however, I am under new business management and am happy to say that I am current for...
- 4/4/2012
- Monsters and Critics
Nicolas Cage has reportedly paid off a large portion of his tax debt. The Con Air actor is said to have fallen behind in tax payments ranging from 2002-2007 to the amount of around $$13 million in total. Cage has now been able to pay the $$6,257,005 amount of tax owed in 2007, reports TMZ. The actor settled a lawsuit with his former accountant Sam Levin for making reckless investments, causing him (more)...
- 4/4/2012
- by By Tom Eames
- Digital Spy
Here's one legal dispute Nicolas Cage doesn't have to worry about anymore. "The Sorcerer's Apprentice" star has settled the lawsuit he filed against his accountant, whom he blamed for ruining him financially.
Cage filed a million suit against Cpa Sam Levin for allegedly putting him in million tax debt. He cited negligence and fraud, claiming Levin failed to pay his taxes when due.
Levin then filed a countersuit, alleging it was Cage's spending spree that had put him in debt. The actor apparently was living beyond his means, and had refused to listen to his advice to tone down his spending habit.
But the two parties have now resolved their differences. The terms of the settlement remain confidential.
Cage filed a million suit against Cpa Sam Levin for allegedly putting him in million tax debt. He cited negligence and fraud, claiming Levin failed to pay his taxes when due.
Levin then filed a countersuit, alleging it was Cage's spending spree that had put him in debt. The actor apparently was living beyond his means, and had refused to listen to his advice to tone down his spending habit.
But the two parties have now resolved their differences. The terms of the settlement remain confidential.
- 9/2/2010
- icelebz.com
After months of battling his accountant in court, Nicolas Cage has finally settled the lawsuit with Sam Levin.
According to reports, the “Raising Arizona” actor accused Levin of making poor investments on his behalf, which cost him millions of dollars and put him $14 millions in tax debt.
On the contrary, in his countersuit, Levin claimed Nic was a spendthrift who bought $33 million worth of homes and 22 cars, including 9 Rolls-Royces.
No word at this time about any specific details of the outcome, but a source has said that Cage is happy the situation is resolved.
According to reports, the “Raising Arizona” actor accused Levin of making poor investments on his behalf, which cost him millions of dollars and put him $14 millions in tax debt.
On the contrary, in his countersuit, Levin claimed Nic was a spendthrift who bought $33 million worth of homes and 22 cars, including 9 Rolls-Royces.
No word at this time about any specific details of the outcome, but a source has said that Cage is happy the situation is resolved.
- 9/1/2010
- GossipCenter
Nicolas Cage is keeping his dirty laundry on lockdown. The Oscar-winning actor has reached a settlement in dueling lawsuits versus his former accountant that will keep the actor from a potentially embarassing showdown in court. Our loss is his gain? In a declaration filed with a Los Angeles court, Cage announced that he resolved his differences with Sam Levin.Cage filed a $20 million legal salvo against the business manager alleging Levin blew up Cage's bank account by making risky investment decisions. Levin fired back with a suit of his own seeking $128,000 in unpaid business management fees, alleging that by the time he was hired by the Ghost Rider star in 2001, Cage already had owed...
- 9/1/2010
- E! Online
Nic Cage Settles Financial Ruin Lawsuit
Nicolas Cage has settled his mega-lawsuit with the accountant Nic claims ruined him financially ... TMZ has learned.
We picked up documents at the court this Am showing Nic and Cpa Sam Levin settled their suit/countersuit Monday.
Nic claimed Levin made reckless investments -- especially in real estate -- that cost him millions. Cage also blames Levin for a $14 million tax debt. In his countersuit, Levin claimed Nic was a spendthrift who bought $33 million worth of homes and 22 cars, including 9 Rolls-Royces.
As for the terms of the settlement -- confidential. All we could get from one source was this: "Nic is happy that it is resolved."
Define happy.
Source: TMZ...
Nicolas Cage has settled his mega-lawsuit with the accountant Nic claims ruined him financially ... TMZ has learned.
We picked up documents at the court this Am showing Nic and Cpa Sam Levin settled their suit/countersuit Monday.
Nic claimed Levin made reckless investments -- especially in real estate -- that cost him millions. Cage also blames Levin for a $14 million tax debt. In his countersuit, Levin claimed Nic was a spendthrift who bought $33 million worth of homes and 22 cars, including 9 Rolls-Royces.
As for the terms of the settlement -- confidential. All we could get from one source was this: "Nic is happy that it is resolved."
Define happy.
Source: TMZ...
- 9/1/2010
- by tmz
- Gossipvita
Nicolas Cage has settled his mega-lawsuit with the accountant Nic claims ruined him financially ... TMZ has learned. We picked up documents at the court this Am showing Nic and Cpa Sam Levin settled their suit/countersuit Monday. Nic claimed Levin made reckless investments -- especially in real estate -- that cost him millions. Cage also blames Levin for a $14 million tax debt. In his countersuit, Levin claimed Nic was a spendthrift who bought $33 million worth of homes and 22 cars,...
- 9/1/2010
- by TMZ Staff
- TMZ
Nicolas Cage got an expensive New Year's gift from Uncle Sam -- a bill for $6.7 million in More allegedly unpaid back taxes.According to a federal tax lien filed on December 31, 2009 -- Cage owes $6,712,821.99 in unpaid taxes for 2008.According to Sam Levin, Cage's former financial manager -- who's in a legal war with Nic over the massive financial collapse -- by 2008, the actor had "15 palatial homes around the world, four yachts, a Gulfstream jet and...
- 1/16/2010
- TMZ
Nicolas Cage's ex-wife Christina Fulton is suing the actor and his former business manager for allegedly wrecking her house sale plans.
According to the suit, filed on Tuesday in Los Angeles and obtained by TMZ.com, Fulton claims Cage bought her a house in Los Angeles in 2001 in return for her giving up her acting career to take care of the couple's son Weston.
But when she attempted to sell the property earlier this year she realised it wasn't hers to sell - Cage had reportedly never transferred the title.
Fulton also claims that Cage served her with a 60-day notice to vacate the premises in September and blames her ex-husband's former business manager, Sam Levin, for leaving her with a $1 million (£625,000) tax debt on the property.
In the lawsuit, Fulton also alleges "mental, physical and emotional abuse" but fails to expand on her claims.
Cage's lawyer, Marty Singer, insists the lawsuit is "an absurd claim," adding, "All of these claims are long-time barred by the statute of limitations and are baseless... We expect this lawsuit to be promptly thrown out."
Singer tells People.com, "This lawsuit is ridiculous... Nicolas Cage has given her approximately three million every year for many years, even though he was only obligated to pay her six thousand a month in child support."...
According to the suit, filed on Tuesday in Los Angeles and obtained by TMZ.com, Fulton claims Cage bought her a house in Los Angeles in 2001 in return for her giving up her acting career to take care of the couple's son Weston.
But when she attempted to sell the property earlier this year she realised it wasn't hers to sell - Cage had reportedly never transferred the title.
Fulton also claims that Cage served her with a 60-day notice to vacate the premises in September and blames her ex-husband's former business manager, Sam Levin, for leaving her with a $1 million (£625,000) tax debt on the property.
In the lawsuit, Fulton also alleges "mental, physical and emotional abuse" but fails to expand on her claims.
Cage's lawyer, Marty Singer, insists the lawsuit is "an absurd claim," adding, "All of these claims are long-time barred by the statute of limitations and are baseless... We expect this lawsuit to be promptly thrown out."
Singer tells People.com, "This lawsuit is ridiculous... Nicolas Cage has given her approximately three million every year for many years, even though he was only obligated to pay her six thousand a month in child support."...
- 12/9/2009
- WENN
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