Mayweather Reaches Agreement With IRS on Debt

[cortdawg25]

If you owe 5mil to the IRS that is a problem right? If you owe any money to the IRS is a problem. Wat are you saying dude?

Owing $$$ to the IRS just means you didn't pay enough thru the yr. You know how many people owe $$$ to the Irs every yr. There is alot of people who don't get refunds for overpayment and actually owe.

[jrosales13]

Owing $$$ to the IRS just means you didn't pay enough thru the yr. You know how many people owe $$$ to the Irs every yr. There is alot of people who don't get refunds for overpayment and actually owe.

So owing 5mil to the IRS is not a problem?

[cortdawg25]

So owing 5mil to the IRS is not a problem?

not when you have grossed over 50 Mil.

Don't get me wrong...i'm pretty sure he aint feeling paying that much, but he ain't losing no sleep. trust

[gopi11]

Well that depends cuz Mayweather is the lead promoter. So he is in charge of all the promotional events. He has to pay all that. He in charge of the undercard. That is coming out of his promotional company. And, he is in charge of JMM purse. So JMM has to get paid his guarantee first. And, since the live ain't doing so good. He would have to do outstanding numbers in PPV for him to reach that 15mil.

Speaking of Marquez and the under cards, I've ran across an article saying Marquez' base pay (guaranteed purse) is $2M, while the rest gets chump change. Chris John will get $50K, Rocky $80K, Katsidis gets $125K, while Escobedo will receive $90K.

http://pbf-vs-jmm.blogspot.com/2009/09/flamboyant-mayweather-takes-humble.html

[gopi11]

Even if he gives the IRS 5mil that leaves him with roughly 10mil. And how much have you made lately? Never knock a person especially one who makes more in a hour than you will your entire life.

Let's just say for argument's sake he will get his $15M, BUT he has to deduct his trainer's, his cutman's, his second's cut, and all who has a stake on his purse, and most importantly, the IRS cut for THIS fight, then deduct another $5M from his promissory to the IRS, which will leave him with what?

Floyd will basically fight Marquez for free, which is why Floyd is a bit subdued and mellow from the press con. He should look at things in a positive light, and not the half empty glass kinda look. You can't put a price tag on a peace of mind, and he can always fight again (Pacquiao/Cotto/Mosley) for a far more decent coin...

[jrosales13]

not when you have grossed over 50 Mil.

Don't get me wrong...i'm pretty sure he aint feeling paying that much, but he ain't losing no sleep. trust

Hmm Wesley Snipes has a lot of money and he got 3yrs for not paying taxes. Yea you right is not a big deal. And, since Floyd gross 50mil and is not loosing sleep then why not pay it now and get the IRS off you back? Why wait till the JMM fight to pay it? He is got robbed, cant keep his car note up, can't pay the trash man, and owes the IRS. But, he is sleeping good. Whatever, honestly I don't care. I really didn't know me making a wise crack, it wasn't even on Floyd it was on Leonard Ellerbe, would get so much attention. But, I know fact I am not loosing no sleep over this. Trust

[la pantera]

Well, no.

The way to fo it is to have the accountant hold the money in an interest-bearing account until the last minute before you go delinquent and the IRS levies fees and interest.

The interest on 40 mil is alot of money. I'm not giving that away.

That's very smart...but time to pay up Floyd. People automatically associate owing money to the IRS with being broke...

[borikua]

lol don't **** with the IRS

[gopi11]

lol don't **** with the IRS

True.

You can get away with murder here in America but not with tax evasion, the spirit of Al Capone can attest to this...

[Al Haymon]

Speaking of Marquez and the under cards, I've ran across an article saying Marquez' base pay (guaranteed purse) is $2M, while the rest gets chump change. Chris John will get $50K, Rocky $80K, Katsidis gets $125K, while Escobedo will receive $90K.

http://pbf-vs-jmm.blogspot.com/2009/...es-humble.html

That's not chump change for those guys. malignaggi made $185K for his Diaz fight. The bradley-Peterson purse bid was $575K and the Guzman-Funeka purse bid was $212K.


Remember that it wasn't that long ago that JMM fought Chris John for $35K.