Floyd Mayweather Jr. responds to reports of 2015 IRS tax difficulties

Floyd Mayweather Jr. took to Instagram to respond to reports of IRS tax problems being the main reason for returning to box MMA superstar Conor McGregor August 26 in Las Vegas.

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.

https://www.instagram.com/p/BWZP1LBgrcO/?taken-by=floydmayweather

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.

@kenaiandrews

Categories
BoxingExtranewsUFC

Kenai is a former Postmedia Network online news and sports editor. He is the Editor-in-Chief for MMA Crossfire.

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