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SDGuy73
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is an idiot. How the hell do you not pay your 2015 taxes. Now this may very well explain why he is fighting McGregor. This is the second time Floyd has had IRS issues. Back in 2009. Expect Conor to make fun of this at press conferences.
"Floyd Mayweather says he can't pay off his 2015 tax liability until after he gets money from his Aug. 26 fight against Conor McGregor.
The boxer filed a Tax Court petition on July 5 that asks the IRS to allow him a reprieve until the fight.
"Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," the petition said, according to the legal website Law360. "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."
It is not known how much money Mayweather owes, but the IRS had previously argued that Mayweather had the resources to pay it immediately, even if it meant selling property or taking out a loan, Law360 reported.
Mayweather made about $220 million from his fight with Manny Pacquiao on May 2, 2015. Mayweather shared on social media a photo of a $100 million check -- his guaranteed purse from the fight -- which did not have taxes deducted from it. Sources confirmed at the time that the check was genuine.
Mayweather is expected to make a similar amount for the McGregor fight.
The petition also asks to reduce the penalty Mayweather received from not paying all of his taxes for the year.
The failure-to-pay penalty is typically 0.5 percent of the owed taxes for each month, according to the IRS website. Mayweather's 2015 taxes are currently 15 months past due, which would equal a 7.5 percent charge on top of what is owed."
Mayweather asks IRS for reprieve, cites bout
"Floyd Mayweather says he can't pay off his 2015 tax liability until after he gets money from his Aug. 26 fight against Conor McGregor.
The boxer filed a Tax Court petition on July 5 that asks the IRS to allow him a reprieve until the fight.
"Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," the petition said, according to the legal website Law360. "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."
It is not known how much money Mayweather owes, but the IRS had previously argued that Mayweather had the resources to pay it immediately, even if it meant selling property or taking out a loan, Law360 reported.
Mayweather made about $220 million from his fight with Manny Pacquiao on May 2, 2015. Mayweather shared on social media a photo of a $100 million check -- his guaranteed purse from the fight -- which did not have taxes deducted from it. Sources confirmed at the time that the check was genuine.
Mayweather is expected to make a similar amount for the McGregor fight.
The petition also asks to reduce the penalty Mayweather received from not paying all of his taxes for the year.
The failure-to-pay penalty is typically 0.5 percent of the owed taxes for each month, according to the IRS website. Mayweather's 2015 taxes are currently 15 months past due, which would equal a 7.5 percent charge on top of what is owed."
Mayweather asks IRS for reprieve, cites bout
