Manny Pacquiao Under IRS Tax Audit For 06-07

anyway, it's not funny when it happens to manny lol. . . it's only funny to see floyd broke and unable to pay off a damn 500k loan. getting cars repod and ****. LOL. . . THEN, after yabbering on about "being his own man" and "keeping 100%", blah, blah, blah, he is so broke he can't even afford to promote his next fight so he has to SIGN W/ GBP. . . he signed a three fight co-promotional deal with them. Soooo floyds rich pays 30 million in taxes feeds the poor a Sold all his old cars and bout new ones...:gives:

Not only that but people with higher income will input higher deductions to make their tax liability lower. If he does not have proof of his deduction, then he will be screw. Our discussion is purely speculative as no one knows why exactly he is being audited. Again, personally I believe that Manny is being audited because of the Large swing in income when he fought Oscar Dela Hoya in 2008 and then earning 10's of millions in the following years as a "Cash Cow." It is a big red flag for the IRS when someone goes from earning a few million in 2006-2007 then all of a sudden earning 10's of millions. They have to check that out with an Audit.

I guess he did not know it was tax deductible as well. maybe. but who knows how it was in the 1940's. those bastards change the laws/rules every damn year. i remember those cunts sent me amended bills 3 straight years for something i already paid. i paid the tax on my stock/401k earnings in 2007. in 2008 they sent me a bill saying what i paid wasn't enough. i was like okay. paid it. 2009 they sent me another bill saying the same thing even though i paid exact amount they asked for and on time. i was like okay. 2010 they did it again for the same 2007 taxes. i was like this is ****ing ridiculous.

mmmmmmm me no know how to make tax aaaaaaaaa bob arum make tax for me aaaaaaaaaaaaaa me very good congressman aaaaaaaaaaaaaaaaa me no have to pay tax me very humble man aaaaaaaaaaaaaa you motherfukka better pay your taxes stop blaming it on arum lol

the little big headed cheater cheating with his taxes too lol.. man duckqiao is getting exposed day by day.. the good always wins..pacs little fake nice pretending is getting exposed.. he's a cheater who cheats on his wife lol

omfg. juiceman is be spending all his monies on prostitutes, he needs to be deported. he got no money. prostitutes are a hefty price.

because they don't have a normal job that deducts taxes before handing them a paycheck? athletes and others celebrities also make additional income from things normal people don't. joe louis for example was what charity boxing matches where he donated his purse and didn't realize it was taxable? I guess he did not know it was tax deductible as well.

whats up with boxers and taxes???and why was floyds issues front page but this isnt?? because they don't have a normal job that deducts taxes before handing them a paycheck? athletes and others celebrities also make additional income from things normal people don't. joe louis for example was what charity boxing matches where he donated his purse and didn't realize it was taxable?

The website you gave says that "The IRS has a computer program that is called the Discriminant Function System that gives each tax return a score. This score is called the DIF score. The score is a number that statistically determines the likelihood of the tax return being accurate." One of the common "Red Flags" of the DIF system is" Large swing in income: The IRS thinks that there should be consistency to earnings. If there are large swings of reported income that cannot be explained by W-2s or 1099's, this is a red flag. This is another one of those red flags you can't avoid if you do have large swings in income. If you do expect to have large swings, just be prepared to show documentation for the differences." Not only that but people with higher income will input higher deductions to make their tax liability lower. If he does not have proof of his deduction, then he will be screw.

wow..will the pactards jump on like they did floyd? do you know what an audit is larry? they go over what you paid to see if you paid the right amount. it's quite common to get audited , if you have a job and pay taxes. a lot of people get audited. it's also different from not paying your taxes.

Was Floyd even audited? The guy just didn't want to pay taxes. There's a difference. :rofl: :rofl: theres its is :lol1: //thread.

follow the link http://www.taxdebthelp.com/tax-problems/tax-audit/irs-audit-statistics 1.03% audit They usually look at deductions, income are reported with 1099misc, so they usually match the 1099misc received with the income reported on the tax return. The website you gave says that "The IRS has a computer program that is called the Discriminant Function System that gives each tax return a score. This score is called the DIF score. The score is a number that statistically determines the likelihood of the tax return being accurate." One of the common "Red Flags" of the DIF system is" Large swing in income: The IRS thinks that there should be consistency to earnings. If there are large swings of reported income that cannot be explained by W-2s or 1099's, this is a red flag. This is another one of those red flags you can't avoid if you do have large swings in income. If you do expect to have large swings, just be prepared to show documentation for the differences."

Just Wait until the RESULTS of the Audit come out before passing judgment for or against Pacquiao. Nobody knows if he's going to owe money or not. Also, no one knows why he's getting audited. I can only speculate that the IRS is looking into those years because of the Cash Bonanza that Pacquiao received when he fought Dela Hoya in 2008. Then his earnings for each fight jumped after that fight. During 2006-2007 he was not a "Cash Cow" yet and did not earn as much as he has today. It was probably suspicious that he made a few million dollars during 2006-2007 then all of a sudden he's making 10's of millions of dollars the following years. They usually look at deductions, income are reported with 1099misc, so they usually match the 1099misc received with the income reported on the tax return.

Just Wait until the RESULTS of the Audit come out before passing judgment for or against Pacquiao. Nobody knows if he's going to owe money or not. Also, no one knows why he's getting audited. I can only speculate that the IRS is looking into those years because of the Cash Bonanza that Pacquiao received when he fought Dela Hoya in 2008. Then his earnings for each fight jumped after that fight. During 2006-2007 he was not a "Cash Cow" yet and did not earn as much as he has today. It was probably suspicious that he made a few million dollars during 2006-2007 then all of a sudden he's making 10's of millions of dollars the following years.

no need for cheer leading on the sideline.. i didnt say that wasnt true. he said to stop posting what that guy got off the net then he went and said something he himself got off the net. The difference would be the relation between true statement and false statement. Or do you have something against the internet?

so ur telling him not to repeat what it says in that article, then u tell him something u got off the net about only a small percentage gets audited? my dumbmican brotha u're quite special. LOL.. follow the link http://www.taxdebthelp.com/tax-problems/tax-audit/irs-audit-statistics 1.03% audit

Who cares? do some people know what an audit means unbelievable how stupid some people are on this board.

LMAO @ people in muddy huts trying to pretend they know finance.At least they know the difference between a tax audit and someone who doesn't pay their taxes. Flomos already were orgasming over the fact that Pac was being tax audited when it really didn't mean shit.

wow.. closer to 1%. :lol1: :biggthump

LMAO @ people in muddy huts trying to pretend they know finance.