Actors Kilmer, Cage in IRS Hot Water

Submitted by Allison Schiff on Tue, 01/04/2011 - 13:10

Actors Val Kilmer and Nicolas Cage have more than the 2009 movie The Bad Lieutenant: Port of Call: New Orleans in common -- they’re also both facing some serious heat from the Internal Revenue Service (IRS), according to AssociatedContent.com.

What did they do?

The Saint star Kilmer allegedly owes nearly $500,000 in federal back taxes which resulted in an IRS lien on his Santé Fe property at the end of November 2010. It's now available for a bargain: The house had been on the market for $33 million since 2009, but according to AssociatedContent.com the price tag was recently reduced to a more affordable $18.5 million.

But that’s nothing compared to Nicolas Cage, who certainly wishes he has some National Treasure now. Cage reportedly owes the government more than $14 million in unpaid taxes going back to 2002.

AccountingWeb quips: “The actor just recently made a payment of $360,545. At least he’s trying.”

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