Comments Thread For: IRS Now Targets Manny Pacquiao For $18 Million in Debt

[lfc19titles]

remember, it's not the promoters job to w/hold or pay the boxers taxes....how 'bout all the guys in the US fighting, who pays there taxes? they do, themselves...& in NYC there's city, state & fed taxes....as I've posted several times, that's why you'll never c Pac in the US...if he arrives, he b behind bars...

no he will not, this will take years to sort out if true

you are being very basic

arum had an agreement with manny to pay his taxes, its all to do with the company arum pays which eventually goes to manny, why else would manny get his funds through his own company if not for tax breaks?

[Lou Cipher]

Now it makes sense when Arum said Manny was fighting in China to avoid the heavy USA taxation. He's taking Manny on the lam so he can squeeze the last few million out of him before turning him over to the taxmen of the world. Bob knows he wont live long enough to face the music. Manny will be making license plates while Bob is playing 100k hands of blackjack with the Devil.

[RawDawgHasSpokn]

This alone should be his main reason to make the fight with Mayweather. After Bob gets his cut, he may actually have enough left over to pay his debts. There is no way this guy should owe so much money. Sad to see a champion struggling.

[Money_May]

So apparently he owes $60M for the years of 2008-2009. How much did he actually make in those two years?

[Money_May]

Bob Arum said that those U.S. taxes were taken out of his purse automatically.

Something is fishy here. It could all just be a big misunderstanding.

And the difference between Pac and other boxers who owe the IRS (Floyd, Tyson, etc) is that Pac just fights here. He a citizen and resident of the Phillipines so its MUCH more confusing. You can't use turbotax for **** like that

The whole problem here is in the first line of your post. Bob Arum said... Yeah because what arum says is gospel.

[The Big Dunn]

So apparently he owes $60M for the years of 2008-2009. How much did he actually make in those two years?

Asking for PED testing in fights and tax problems. where have I seen this before?

[Money_May]

Asking for PED testing in fights and tax problems. where have I seen this before?

in 2009? All seems so familiar.

I don't understand how he owes 60M in tax for 2 years? Did he really earn about 120M in those two years?

[Dr Rumack]

The whole problem here is in the first line of your post. Bob Arum said... Yeah because what arum says is gospel.

I think the issue here might be that Top Rank did withhold and pay 30% of Manny's fight purses to the IRS, but the PPV upside which arrives later may not have been taken care of at all.

Depending on how Manny gets paid his PPV money, it's possible that Top Rank has nothing to do with that side of Manny's affairs.

The Filipino tax problem is a different issue again, with Pacquiao believing that having paid the IRS he didn't have to pay the Filipino government as well. In other words, that he shouldn't be taxed twice on the same income.

[lfc19titles]

The Filipino one will be resolved, Manny had a similar issue before, it's more to do with fines for failing to file the paper work. He needs official documentation he had paid his USA taxes, once he resolves this 18m issue

The 50m issue will be pushed away due to the treaty between the two countries

The point is if Bob had said to Manny I paid all of your taxes, and now this had come up, what did Bob do with Mannys money? Keep it?

Or did he give it Manny whilst underpaying the taxes thinking he could get away with it with the irs

[The Big Dunn]

in 2009? All seems so familiar.

I don't understand how he owes 60M in tax for 2 years? Did he really earn about 120M in those two years?

You never know how Bob manipulated things to screw manny on this.