Nicolas Cage Owes Taxes On Extravagant Gifts

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Oh shiz. Guess it doesn’t pay to be generous.

Nicolas Cage is being targeted by the IRS for not paying taxes on gifts he gave to people between 2004 and 2009.

According to federal docs, Nic handed out presents in an amount totalling to around $1.8 million, but he never paid taxes on them.

The docs claim that he owes almost $630k in taxes, especially in years 2004-2007, where he seemed to be the most generous.

Since his financial woes started a couple years ago, Mr. Claus Cage says that his business manager is responsible for his financial mistakes, which have resulted in “catastrophic losses.”

It’s awesome that you wanted to be so generous, Nic, but you still have to pay your taxes!

Think about adorable handmade gifts next time you want to give. Who wouldn’t love a scarf knitted by Nicolas Cage?? Or perhaps a Color Me Mine mug?? Think about it.

[Image via WENN.]

Apr 15, 2011 3:10pm PDT

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