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Nicolas Cage Accused of Tax Fraud

February 20, 2008

Nicolas Cage

There are two guarantees in life; death and taxes. Nicolas Cage had found a clever way to get out of the second part, but unfortunately for him, the IRS caught on.

Cage has been accused of using his production company to "wrongly write off $3.3 million in personal expenses."

He's allegedly been using his company, Saturn Productions, to pay for "limos, meals, gifts, travel", reports Forbes.com

However, a rep for the star says the items were "security needs". Cage has filed a U.S. Tax Court lawsuit disputing $814,000 in taxes and penalties while Saturn is refusing to pay the IRS $988,000. Will these celebrities ever learn?

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Reader Comments
2:11AM 06/05/08 steve
hmm.. Nicolas cage may have been right to charge this with the production company. But I think IRS may have done an audit and found something.. irsclub.com
0:38AM 04/25/08 anon
I hope he doesn't get a sentence like Wesley snipes just got. Wonder if he does some of these expenses to please his wife maybe cause lots of men are like. Hope it all turns out ok for him.
10:06AM 03/01/08 monica
Just realized I responded to the wrong person. Shut up anonymous.
10:01AM 03/01/08 monica
Yes, Anonymous they are business expenses. I know about business expenses. I go through it every year myself, but I don't make nearly as much as Nick. Not even close..LOL. I love you Nick. Your #1 fan, Monica. I hope I can meet you someday.
11:42AM 02/20/08 La Chat
Wait isn't travel and limos considered a part of a business expense? I mean hello look what he does for a living.
7:45AM 02/20/08 Anonymous
Just need to to load, my prepaid debit card card, for spending moneys. Put it all on my companions name. I don't have any family, they fed me to the Lions, to save thier own sorry souls! The leeches are starting to come out!!
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