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Mayweather Owes Taxes, Asks IRS to Wait For McGregor Fight
- Thread starter GzUp
- Start date
I do pm me if you have questions or tag me in a credit thread
The IRS wants Mayweather (49-0) to pay his taxes for 2015. Mayweather has earned an estimated $700 million in his career, Forbes magazine reported, including a staggering $220 million from his much-hyped fight against Manny Pacquiao in May 2015.
"Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," the petition by Mayweather said in a filing posting on Law360.com. "The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding."
Mayweather, who retired from boxing after defeating Andre Berto in September 2015, took to social media to react to the circulating reports regarding his finances.
"Believe half of what you see and none of what you hear, especially when it comes to media in this country. While everyone is counting my money and assuming the worst, these are the facts... Uncle Sam, received $26,000,000.00 from me in 2015! What else could they possibly want? I'm sure I would have been notified much sooner if there were any real discrepancies right?," Mayweather stated
"Bottom line, everybody just wants to be a part of the 'Money May' show, including the IRS! That's fine, you can crunch numbers all day but in the end, my empire is rock solid and intact! Now Calculate That!"
Mayweather: I Gave IRS $26 Million in 2015, My Empire Rock Solid! - Boxing News
So, he got $220 million vs Pacquiao and $32 million vs Berto.... $252 million made in 2015, and he's only paid $26 million this far into 2017 on his 2015 taxes????
Then he trash talks the IRS
His accountant must have deducted expenses for employee salaries and may have went overboard on itemized deductions and the irs wants proof and if can't provide he owes more
Nigerianwonder
Superstar
The IRS wants Mayweather (49-0) to pay his taxes for 2015. Mayweather has earned an estimated $700 million in his career, Forbes magazine reported, including a staggering $220 million from his much-hyped fight against Manny Pacquiao in May 2015.
"Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," the petition by Mayweather said in a filing posting on Law360.com. "The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding."
Mayweather, who retired from boxing after defeating Andre Berto in September 2015, took to social media to react to the circulating reports regarding his finances.
"Believe half of what you see and none of what you hear, especially when it comes to media in this country. While everyone is counting my money and assuming the worst, these are the facts... Uncle Sam, received $26,000,000.00 from me in 2015! What else could they possibly want? I'm sure I would have been notified much sooner if there were any real discrepancies right?," Mayweather stated
"Bottom line, everybody just wants to be a part of the 'Money May' show, including the IRS! That's fine, you can crunch numbers all day but in the end, my empire is rock solid and intact! Now Calculate That!"
Mayweather: I Gave IRS $26 Million in 2015, My Empire Rock Solid! - Boxing News
So, he got $220 million vs Pacquiao and $32 million vs Berto.... $252 million made in 2015, and he's only paid $26 million this far into 2017 on his 2015 taxes????
Then he trash talks the IRS
This is a non story. He jus filed for an extension. Who knows what deductions were claimed and what the IRS is disagreeing with.
It's a nonstory?
It's a big story. The highest earning Boxer in history still owing taxes from 2 years ago will always be a story. He still has to pay the rest of his 2015 taxes, his 2016 taxes, and his 2017 taxes will be due in 9 months.
That's a story.
Nigerianwonder
Superstar
It's a nonstory?
It's a big story. The highest earning Boxer in history still owing taxes from 2 years ago will always be a story. He still has to pay the rest of his 2015 taxes, his 2016 taxes, and his 2017 taxes will be due in 9 months.
That's a story.
He paid his taxes. IRS is disputing the amount he paid. His lawyers and accountants will figure it out. Non story. No where does it say he is broke or doesn't have the means to pay. He simply filed and extension to deal with it after the fight.
Taxes from just 2 years ago is not a long time. The IRS was not coming after him. He pro actively filed this petition for an extension. That's what you are missing and why it's a non story. Now if the IRS was coming after him and liquidating his assets then you would have a story. But that is not the case.
extension for 2015 taxes would have been owed Oct of 2016 so he would owe interest and penalties by now. He likely filed extension for 2016 taxes due and that will be due of Oct of this year.
but if its just an IRS dispute then it's not a big deal but he clearly has some liquidity issue. If the IRS says he owes and his accountants can provide proof of the contrary then he won't owe, so the media has to be clearer if he didn't pay 2015 at all or if this is an IRS challenge
hopefully his money is tied up in private equity or private partnerships that can't be touched but will yield results down the line, so he isn't completely cash broke going forward
spencerforhire
All Star
TMT: Transfer More Tax
spencerforhire
All Star
spencerforhire
All Star
Damn..... nikka may need to sell off his Louie Bags and Versace slippers.
Reports: Mayweather Also Owes IRS $7.2 Million For 2010 - Boxing News
Reports: Mayweather Also Owes IRS $7.2 Million For 2010
As BoxingScene.com reported a few days ago, the IRS claims five division world champion Floyd Mayweather Jr. still owes $22.2 million in taxes from 2015, the year he earned his biggest payday with the blockbuster fight against Manny Pacquiao.
A notice of a federal tax lien filed against the undefeated fighter nicknamed "Money" shows the balance as unpaid as of March 6. The document was filed with county officials in Las Vegas in April.
Mayweather's tax troubles come as he gets ready to come out of retirement to fight UFC superstar Conor McGregor on August 26th at the T-Mobile Arena in Las Vegas.
Now there are reports stating that the IRS filed a lien for $7.2 million for the tax year of 2010, according to records that show the lien in question as being unresolved. 2010 was the year Mayweather fought and defeated Shane Mosley on Cinco De Mayo weekend at the MGM Grand in Las Vegas.
Regarding the debt for 2015, Mayweather filed a petition last week arguing that as wealthy as he is, he doesn't have the cash on hand to pay his debt. The IRS refused a direct request by the fighter to pay in installments until he is paid for the fight with McGregor, and the agency said it intends to levy Mayweather.
It's the latest in a cycle for Mayweather, who paid $15.5 million in taxes for 2001, 2003-2007 and 2009 only after the IRS filed liens against him, according to documents filed to the Clark County Recorder in Las Vegas.
Mayweather's tax attorney did not return messages seeking comment. Mayweather's manager, Leonard Ellerbe, referred questions to the attorney.
Mayweather has publicly disputed the claims being made by the IRS. He went to social media, stating that he paid the IRS $26 million in 2015, and that he's sure he would have been notified much sooner had there been any "real discrepancies."
Mayweather said: "My empire is rock solid and intact."
Reports: Mayweather Also Owes IRS $7.2 Million For 2010 - Boxing News
Reports: Mayweather Also Owes IRS $7.2 Million For 2010
As BoxingScene.com reported a few days ago, the IRS claims five division world champion Floyd Mayweather Jr. still owes $22.2 million in taxes from 2015, the year he earned his biggest payday with the blockbuster fight against Manny Pacquiao.
A notice of a federal tax lien filed against the undefeated fighter nicknamed "Money" shows the balance as unpaid as of March 6. The document was filed with county officials in Las Vegas in April.
Mayweather's tax troubles come as he gets ready to come out of retirement to fight UFC superstar Conor McGregor on August 26th at the T-Mobile Arena in Las Vegas.
Now there are reports stating that the IRS filed a lien for $7.2 million for the tax year of 2010, according to records that show the lien in question as being unresolved. 2010 was the year Mayweather fought and defeated Shane Mosley on Cinco De Mayo weekend at the MGM Grand in Las Vegas.
Regarding the debt for 2015, Mayweather filed a petition last week arguing that as wealthy as he is, he doesn't have the cash on hand to pay his debt. The IRS refused a direct request by the fighter to pay in installments until he is paid for the fight with McGregor, and the agency said it intends to levy Mayweather.
It's the latest in a cycle for Mayweather, who paid $15.5 million in taxes for 2001, 2003-2007 and 2009 only after the IRS filed liens against him, according to documents filed to the Clark County Recorder in Las Vegas.
Mayweather's tax attorney did not return messages seeking comment. Mayweather's manager, Leonard Ellerbe, referred questions to the attorney.
Mayweather has publicly disputed the claims being made by the IRS. He went to social media, stating that he paid the IRS $26 million in 2015, and that he's sure he would have been notified much sooner had there been any "real discrepancies."
Mayweather said: "My empire is rock solid and intact."
GREENandYELLOW
2x...and defending
Wasn't Floyd saying he had a $100 million dollar check he hasn't cashed? fukking stupid if that is true. Take that money and cash it right away. If the person who owes you money goes broke your check isn't worth shyt.
Either way, I call BS on that. Floyd cashes his checks right away, because money is too damn important to him that he isnt leaving any out there unclaimed.
Don't even both breh, its clear some of these brehs have no experience in finance or with taxes.
But this is an IRS dispute...
looks like floyd has a lot of assets but he's having trouble liquidating them or he refuses to do so knowing that his accountants and tax lawyers will get everything straight.
You Win Perfect
bow down
Dudes in here that never seen 250k let alone 300Ms think they know about big boy taxes 
desjardins
Superstar
Floyd did say he had a lot of real estate in Manhattan. I guess it's possible he has a lot of money tied up.
Really we look at Floyd like he's so rich but those Manhattan properties could have been $10-20 million a piece, who knows how much it cost to set up a brand new strip club, all the private jets and million dollar Bugattis. Breh is probably leveraged to the tilt on a mix of legitimate investments and dumb shyt.
Then if rumors are correct Al Haymon is getting 30% of everything, probably pretax. I could see how he might need to fight again just to pay off the 2015 tax
Really we look at Floyd like he's so rich but those Manhattan properties could have been $10-20 million a piece, who knows how much it cost to set up a brand new strip club, all the private jets and million dollar Bugattis. Breh is probably leveraged to the tilt on a mix of legitimate investments and dumb shyt.
Then if rumors are correct Al Haymon is getting 30% of everything, probably pretax. I could see how he might need to fight again just to pay off the 2015 tax