Boxer Floyd Mayweather Jr. is asking the Internal Revenue Service for a temporary reprieve on his tax debts until he fights Conor McGregor in an upcoming bout.
Mayweather reportedly filed a petition with the U.S. Tax Court, according to the legal news website Law 360, claiming his funds are not accessible and asking for an installment agreement. “Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” his attorneys wrote. “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.”
The undefeated boxer reportedly earned $220 million in 2015 from a fight against Manny Pacquiao. He is scheduled to face off against McGregor in a heavily anticipated bout on August 6.
The IRS has filed a number of tax liens against Mayweather over unpaid taxes going back to 2001. In 2011, the IRS filed a $3.36 million tax lien against him, and in 2009, he paid $5.6 million in back taxes.
Call your Kansas City Tax Attorney, Jeffrey R. Siegel at (913) 735-4819, for problems with delinquent taxes, tax liens or tax levies.