Mayweather In Taxes Battle with Government
Floyd Mayweather has filed a petition with the United States Tax Court, asking for a short-term installment agreement to get more time to get money and pay off federal taxes he owes from 2015. He asks the government to wait for his fight with Conor McGregor to be done.
"Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," Mayweather’s filing said, according to a Law360 report from Bryan Koenig (via BoxingScene). "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."
Mayweather claims that he will have more cash easily to be given towards paying off the taxes after his superfight with the UFC lightweight champion. That bout takes place on Aug. 26 in Las Vegas, Nevada.
The government, however, argues that Mayweather could pay off his taxes through other means — means that he has the ability to do.
"The agency said that Mayweather had various options available … including by selling property, withdrawing cash from other accounts or taking out a loan," the Law360 report said.
Mayweather has gone back and forth with the IRS over the years, reportedly owing taxes from the years 2007, 2009 and 2010. Mayweather has also had to pay off liens the government agency filed against him four times between 2001 and 2006.