James Allen News Center

Poor Nicolas Cage - seems as though the actor`s financial problem keep growing. Just as Cage decided to get his house in order and pay the IRS all the back taxes he owes, he discovered he owes more - $14 million more.

The government recently placed a tax lien on his real-estate possessions, including an additional $6.7 million from 2008. In an exclusive statement to PEOPLE, Nicolas says "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. 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."

Cage has built a reputation for his extravagant spending habits, even by Hollywood standards. He has spent loads of money on fast cars, diamond jewelry, yachts, castles - even a collection of shrunken heads and dinosaur skulls.

Cage is also being sued by Christina Fulton - the mother of his eldest child, Weston. Christina is suing Nicolas for fraud and breach of contract. She claims she is tangled up in his financial mismanagement and is in debt for more than $1.2 million herself as a result.

Cage has three movies scheduled for a 2010 release, including Kick-Ass, The Sorcerer's Apprentice, and Season of the Witch.