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irs, Nic Cage, Nicolas Cage, Nicolas Cage IRS Dispute, Nicolas Coppola
irs, Nic Cage, Nicolas Cage, Nicolas Cage IRS Dispute, Nicolas Coppola

IRS Accuses Nicolas Cage Of Illegally Writing Off Personal Expenses

Forbes   |  Janet Novack   |   February 21, 2008 12:56 AM

Read More: Irs, Nic Cage, Nicolas Cage, Nicolas Cage IRS Dispute, Nicolas Coppola, Breaking Business News
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The Internal Revenue Service says movie star Nicolas Cage used a company he owns to wrongly write off $3.3 million in personal expenses, including limos, meals, gifts, travel and his Gulfstream 1159A turbojet.

In just-filed U.S. Tax Court lawsuits, the 44-year-old actor--using his legal name of Nicolas Coppola--is disputing a personal IRS bill for $814,000 in taxes and penalties from 2002 to 2004, while his Saturn Productions of Los Angeles is fighting a demand for $988,000. The feds hit Cage both ways, denying Saturn a deduction for the disputed expenses while taxing Cage individually on the perks as salary and "constructive dividends."

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Not that Cage is the only celebrity to tussle with the IRS. Read about actor Wesley Snipe's brush-in with tax fraud here.


 
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- realitytrumpsbull I'm a Fan of realitytrumpsbull permalink

Hey, was there ever any more on the harriette walters story? BALANCE THE FEDERAL BUDGET SO PEOPLE AREN'T FORCED TO BE CROOKS TO GET AHEAD.
Uncle Dick's Magic Poison Government Doughnuts.

    Favorite    Flag as abusive Posted 05:09 PM on 02/21/2008
- realityisbetter I'm a Fan of realityisbetter permalink

It's the old addage. What's the difference between tax avoidance and tax evasion? A good accountant. The most honest businesses "bend" the rules and most break them with impunity.

    Favorite    Flag as abusive Posted 03:15 PM on 02/21/2008
- watchingthings I'm a Fan of watchingthings permalink

Now the slimeball is sueing Kathleen Turner on bullshit charges. He's probably sueing in England because he may be thinking that he's alot smarter then the English legal system and he can bamboozle them easily.

    Favorite    Flag as abusive Posted 08:05 AM on 02/21/2008
- FeloniouslyAnnoying I'm a Fan of FeloniouslyAnnoying permalink

Ahh, the American dream; being rich enough to have people cleverly dodge the tax code to your benefit.

Sounds like he just got greedy.

    Favorite    Flag as abusive Posted 02:22 AM on 02/21/2008
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