Floyd Mayweather owes 2015 federal taxes, asks for installment plan

By Daily Sports on July 10, 2017

Retired boxing champion, Floyd J. Mayweather recently filed a lawsuit in U.S. Tax Court against the U.S. Internal Revenue Service (IRS).

In past experiences, U.S. Tax Court documents have not been electronically available and have taken more than a week to obtain. But when boxing’s all-time great is the apparent principal, things move quickly.

BoxingScene.com reports that Mayweather still owes federal taxes for 2015 and is petitioning the U.S. Tax Court for an installment agreement, specifically citing what appears to be his scheduled Aug. 26 clash with MMA superstar Conor McGregor as a “significant liquidity event” from which he intends to pay the remaining balance.

Boxing Scene cites a Law360 report describing the apparent dispute between Mayweather and the IRS.

“The agency said that Mayweather had various options available, including by selling property, withdrawing cash from other accounts or taking out a loan.”

In other words, Mayweather argues he’s too illiquid to immediately pay his 2015 taxes while the IRS believes some of his assets could be converted into cash or Mayweather could take out a loan to pay what he owes.

2015 is the year Mayweather reportedly earned $220-230 million for defeating Manny Pacquiao in what was billed as boxing’s Fight of the Century. Once the McGregor clash takes place towards the end of the summer, Mayweather will now have to pay taxes on a possible $400 million in earnings as well as cover his past IRS debts. (BoxingScene.com)

•Photo shows Floyd Mayweather. 

Source Daily Sports

Posted July 10, 2017


 

You may also like...
Arsenal in contract talks with Iwobi

Man United set to sign Nigerian youngster Olosunde...

9 Nigerian Athletes Compete At Tunis Para Athletics...

FIFA Ban: Siasia Hails CAS, Laments NFF Neglect...

Liverpool Maintain Unbeaten Start With Late Equaliser At...

Buhari Appoints Amokachi Special Assistant On Sports

 

Latest News CAF awards: Ajibade, Nnadozie, Edo Queens bag nominations Lagos SWAN, PAACC Hold SWAN Day At Golfview Hotels, Ikeja Crisis looms as Eagles’ form raises AFCON, W’Cup concerns Ex-Nigerian Super Falcons player handcuffed, children assaulted as police storm Anambra Football Academy Sports NFF, teammates console Nwabali on father’s death Abia Govt hails Nigeria Olympic Committee over staging an admin course in Umuahia Libya deliver Eagles 2025 AFCON ticket Eagles battle Cheetahs for 2025 AFCON ticket Yellow Greens gear up for T20 W’Cup qualifiers Tyson tips Fury to beat Joshua Sadiq absent as 22 Eagles train in Abidjan Eagles’ striking trio hot for Cheetahs, Amavubi clashes

 

Most Read Rangers International going, going . . . (55,163 views) Amaju Pinnick: A cat with nine lives (46,307 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (44,370 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (44,015 views) Sports Development: Zenith Bank on the zenith (43,948 views) Current issues in Nigerian sports: Matters arising (43,904 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (43,742 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (43,311 views) Olopade, BET9A wave of revolution in NNL (42,366 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (41,054 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (39,506 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (38,931 views)

 

Phone numbers

Tel: +234(0)8066020976
+234(0)8055068145
+234(0)7013416146
+234(0)8094272884

Email addresses

info@dailysportsng.com
support@dailysportsng.com
publisher@dailysportsng.com

Office address

No 3, Adetoun Close, Off College Road, Ogba, Ikeja Lagos.
Website: www.dailysportsng.com

Social Media