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Nicolas Cage Will Pay IRS $14 Million

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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.”

Cage will next be seen in the thriller Season of the Witch in March.