After Paying $70m in Taxes, Nicolas Cage Owes IRS $14m More

People Magazine: Nicolas Cage Will Pay IRS $14 Million:

Nicolas Cage is determined to get his financial house in order and to pay the IRS all that he owes in back taxes.

While the government recently placed a tax lien on his real-estate holdings, including an additional $6.7 million from 2008, "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 IRS," Cage tells PEOPLE in an exclusive statement. "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."

• E! Online
• Going Concern
• TMZ
• TaxGirl

Prior TaxProf Blog coverage of Nicolas Cage's tax problems:

• Nicolas Cage, IRS Face Off Over $6.3m Tax Bill (8/4/09)
• Bangkok (and IRS) Dangerous: Nicolas Cage Settles Tax Court Case for $666k (9/9/08)
• Actor Nicolas Cage Faces Off With IRS, Files Tax Court Petition Over Disallowed $3.3 Million Deduction for Personal Expenses (2/20/08)