Do you remember when #FloydMayweather flashed his $100 million check after the #MannyPacquiao fight back in May 2015? Well, apparently, the IRS noticed that he hasn’t paid taxes on it and is coming to collect their coin! While the past due amount has not been revealed, the IRS did indicate that the believe that the boxer has enough assets to satisfy the balance, however he is not willing to liquidate them.
According to documents, Floyd doesn’t have the cash to pay the 15-month past due amount and would rather wait until after his big payday next month to take care of it. “Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” the said Tax Court petition said. “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 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.”