Cage Pledges to Pay Back Taxes, Blames Former Manager for Mess

Blaming poor financial management by former business manager Samuel Levin, A-list actor Nicolas Cage has pledged to pay $14 million in back taxes and penalties to the IRS. The government recently slapped Cage with a tax lien of nearly $6.3 million on his real estate holdings as a means of collecting on a bill from 2002-2004. A $6.7 million lien has been filed against him for the 2008 tax year.

Cage claims Levin mismanaged his finances including investing in shaky real estate ventures, over charging him for services, and failing to pay the actor’s taxes, all leading to the financial mess he now finds himself in. He filed a $20 million suit against Levin in October 2009. Levin has denied the allegations claiming through his lawyer that he warned Cage about his “compulsive, self-destructive spending.” A counter suit was filed by Levin’s attorney last November.

In an exclusive statement with People Magazine, Cage asserted he was getting his financial house in order and would pay all back taxes. Referring to his severed relationship with Levin, Cage said, “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 Pledges to Pay Back Taxes, Blames Former Manager for Mes