Comments Thread For: Pacquiao's Federal Tax Lien Being Released By IRS

[BartBears]

It's in the BIR document, which is published online and his political rivals made sure it was available to the public. It states "Mr.Pacquiao's documents showed banking accounts and assets in the U.S. totaling $41.8 million dollars". Regarding the only banking protected by the government..take a look at greece and other places..the government let people lose al their money when the banks went bankrupt. Here the government invested billions upon billions to keep them afloat.

Ok i understand he has 41 mill in USA, but what i'm saying is he surely has his money outside the USA and Philippines too. Just logical thinking no rocket science here

[checkhuk44]

Would probably believe most of this article if it wasn't Ronnie who wrote it.

exactly, he has never written an unbiased article about manny, big picture? This is a pretty transparent accounting of what is going on, if only people would stop drinking the koolaid and see it. Manny owes that money, def, no doubt about it. If you remember he denied owing that money in the first place, his camp killed TMZ, making it seem like a smear campaign. If you remember there was no mention of the lien on the TMZ report. That ovb came after the report surfaced, a response to Manny's public denial no doubt, and if it took place BEFORE the report, then Manny is a bold face liar. That means he knew about the lien when he denied owing the money in the first place. What we have here gents is simple financing. Manny threw the feds a downpayment, they agreed to release the lien under the premise he will fulfill his obligation. It gets manny a spot of PR and the Feds some cash, however, the IRS has said nothing, nada. That makes the lawyers claims then reliable. The bottom line here is manny was reckless with money for a long time, and now he is broke. Broke as a joke, and he has only HIMSELF to blame. HE chose to sign with Arum, HE agreed to 30% several times over the course of extensions, even after he had become a mega star. ALL time GREAT FIGHTER, but dumb as a rock if you examine the track record

[edgarg]

The word is "LIEN"...now please start over...

What about "realised".....? ("released" is what the report says; but I say it for "Them" -meaning the pinheads). They have no concept of how a lien really works, nor how many different kinds there are. Nor the different kinds of relief which can be applied for. All they know is what they saw on a TV thriller somewhere. Even the dictionaries they've (probably) looked up on the internet don't help, because they don't know the exact meanings of the synonyms either. And, most importantly, they have no concept of the circumstances for which those words were used, considering that the very same word very often has different effective meanings depending on the surrounding circumstances. Only MannyP's accountants and the IRS know.

I pay attention to RN's report firstly because he is a globally known veteran reporter, and especially because he is repeating "quotes" from statements released by the principals, and not editorialising. The droolers don't understand anything about this.

And, since his reports are read by probably 100,000,000 Philippinos, and that MannyP is a deeply revered figure there, and he really IS the "Fighter of the Decade"..... I don't see anything wrong with using it at will.

[Lou Cipher]

Bob ArScum got him an extension so he can bleed another couple of fights out of him before sending him back to Asia to live in a Boxing gym and beg for coins while ArScum rollercoasters to Hell in a gold coffin lined with Pac's $$. That piece of trash.

[sdcluser]

Tax men got Pac by the balls? LIEN doesn't sound like a good thang to me.

[edgarg]

Well I guess all the H&R Block interns are going to have to find something else to crow about. I said it before if he really owed that much money they wouldn't give him a Visa,political or otherwise. When the IRS disputes one write off they'll dispute all the writeoffs for the entire year of earnings. If this dude owes more than 3 to 5 million it would surprising. He had $41 million in fluid assets (Money in banks in the U.S., Properties (Globally), and bonds. The IRS isn't privied to his investments in the Philipines either (Hence all the swiss and Dakota's accounts that billionaires have...Read up on the Dakota legacy wills laws), so all in all this cat ain't broke despite the quick assumptions and reports.

I didn't know about Dakota, I need to look into that. I know about Delaware.........

[Spray_resistant]

and we need a spam article about Pac's finances because????

This really is only indirectly boxing related and no one's business but Pac's.

[TheSurgeonMDMPH]

What about "realised".....? ("released" is what the report says; but I say it for "Them" -meaning the pinheads). They have no concept of how a lien really works, nor how many different kinds there are. Nor the different kinds of relief which can be applied for. All they know is what they saw on a TV thriller somewhere. Even the dictionaries they've (probably) looked up on the internet don't help, because they don't know the exact meanings of the synonyms either. And, most importantly, they have no concept of the circumstances for which those words were used, considering that the very same word very often has different effective meanings depending on the surrounding circumstances. Only MannyP's accountants and the IRS know.

I pay attention to RN's report firstly because he is a globally known veteran reporter, and especially because he is repeating "quotes" from statements released by the principals, and not editorialising. The droolers don't understand anything about this.

And, since his reports are read by probably 100,000,000 Philippinos, and that MannyP is a deeply revered figure there, and he really IS the "Fighter of the Decade"..... I don't see anything wrong with using it at will.

Oh snap. Look who has come to the rescue. Edgargles. Hasn't the the Prank made you look foolish enough already? It's kinda sad but humorous at the same time.

[619 southpaw]

who gives a f#ck talk about his next fight or something

[edgarg]

I don't believe he has his major baking in the USA. Well he has official, but most rich people have Swiss accounts. This myth "the only country that protects your money on a federal level" is....well just a myth.

It may mean that deposits are protected up to $100,000. I'm now in Canada and that's what the law is here -ALL deposits are insured. In Europe the Irish government also stepped in about 3-4 years ago when their largest and oldest banks were completely bankrupt and guaranteed every deposit. But the rates are lousy.

Someone mentioned Switzerland, but the Swiss don't have the banking secrecy that they once had. They have been forced to disgorge the names on many US clients, or those doing business in the US, because of the vicious banking laws Obama has pushed against ALL tax havens and indeed, all banking systems. He has almost destroyed world commerce single-handed, and much of the depression the world is now in, is, in my opinion the result of Obama administration's banking bombs.

Every international transaction has to pass through a United States Intermediary, and every foreign bank needs a proxy in the United States. When anyone wants to transfer funds from one country to another, the recipient bank sends the neccessary info re the US intermediary to the sender who has to relay this info to his bank who use it to successfully transfer. And it can take up to a couple of weeks, or even months, because there are often hold-ups via the intermediary. Of course all this time they have the free-of-interest use of the money . And every little dot and comma has to be perfect or...... That's the sort of choke-hold the US has put on world banking. This fact has been lost in the world turmoil.

I don't know if MannyP would have most of his assets in the US, $41 mill seems about half or less, because he has huge assets also in the Philippines, mostly in property and businesses. (Now why didn't the BIR seize them...???) I've seen this in news reports and have no idea how accurate they are. But since the tax rates there are much less than the US, it seems logical. I know that whilst the US is hunting down all global tax refuges, like Panama, The Virgin Islands, Turks and Caicos, etc. the US itself is one of the biggest....that is if you have VERY good research and good tax lawyers.........