The financially troubled actor is determined to get his balance sheet in order and to pay the IRS all that he owes in back taxes. Cage tells PEOPLE in an exclusive statement:

“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,”

The government recently placed a tax lien on his real-estate holdings, including an additional $6.7 million from 2008 but as you can see he is determined to put all that behind him.

Click here to see how he got there. Clue: expensive toys.

What does this mean for you? Lots more life-robbing films in the vein of Ghost Rider and National Treasure. Ace.