ESPN’s Darren Rovell and the Law360.com’s Bryan Koenig reported that Mayweather filed a petition in the U.S. Tax Court July 5 for delay action on his tax liabilities until after the McGregor fight and to also waive future failure-to-pay penalties, to the disagreement of the IRS.
“Although the taxpayer (Mayweather) has substantial assets, those assets are restricted and primarily illiquid,” the petition said, according to 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.”
The IRS contends that Mayweather does have the means to immediately “fully or partially pay the liability,” by selling property or using funds from bank accounts or taking out a loan.
Mayweather responded in Instagram.
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? 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! #TMT #FloydMayweather #TBE #Mayweather
According to Law360.com, the case is Floyd J. Mayweather v. Commissioner of Internal Revenue, case number 014662-17, in the U.S. Tax Court.
The Mayweather-McGregor fight is expected to cost approximately $116 USD, with an extra $13 USD to watch it in HD.