Comments Thread For: Mayweather Owes Taxes, Asks IRS to Wait For McGregor Fight

[Realboxingfan1]

Does this mean that on fight night jimmy lennon jr is going to be introducing like ...... flooooyyyyddd layaway maaaaayywweeattheerr.

[Bronx2245]

I think Floyd's "struggles" growing up are greatly exaggerated. His uncle is was a world champion fighter. His dad was a good fighter. And more importantly, Floyd was a child prodigy. I doubt Floyd wanted for a whole lot growing up, even though his guardians were less than ideal. I assume his childhood was pretty similar to LeBron's. Yes, they grew up in the inner city. No, they didn't have the best parents. But as child prodigies, they were walking lotto tickets. I'm sure money wasn't far outta reach.

Remember, Floyd Sr. and Roger weren't making any real money! Then Floyd Sr. was on that **** too! A dead beat Dad is a dead beat Dad, whether he's rich or poor!

[Teetotaler]

Good thing he invested in those boats

[Francis M.]

Kinda common with people who make A LOT OF MONEY! They can delay and a lot of times even get out of having to pay all of their Taxes. I think it is BULL**** but they have the money to pay for the best Lawyers to work around things and find loopholes while the average person we have to meet that deadline or file extension

It's not that common to owe taxes after filling. Lawyers and accountants find loopholes prior to filling. Floyd just owes money and is not as liquid as he advertises to be.

[lfc19titles]

Mayweather has IRS problem

Knew he was broke all along, he will be fighting for years to come yet

Let's see how Floyd stans
Deal with this after the fun they had at pacmans tax issue

[Kagami Taiga]

Funnily enough, this is the same type of crap our current President does. Doesn't mean what people think it means. It's a tax loophole that rich ppl use to get to pay taxes when they want to.

[Ray*]

Why can't he just pay his taxes like normal people do? Once you get your cheque get the accountants to write your self employed cheque out to the taxman... job done! Why the need for all this? To be doing the same shit that you need 10 years ago is not only ignorant but plain dumb.

[Butch.McRae]

Are there legit Zuckerberg, Gates & Buffet tax court headlines I'm missing?

I was always of the understanding that people who have a lot of incoming & outgoing money are more apt to do their taxes quarterly cuz its such a big task plus more painful due to how much you gotta pay all at once vs doing them yearly & late at that.

And I'd assume the agreed upon amount might be equal or still more money with the interest then if you'd just paid them correctly on time in the first place.

A lot of those really wealthy people (like the ones noted) don't get income in the way we traditionally think about it. They have LLC's set up that invests and pay corporate taxes. See Cascade Investments for example; Gates company. That vehicle might pay them an annual dividend but the taxes get murky. A guy like Floyd seems to get a fair amount of personal income based on the article. Most of his cash is likely tied up in some trust somewhere, that pays him an annual dividend.

One thing you have to think about is the reporting source. Law360 reported on it because it Floyd lol They wouldn't report on those other guys because it kind of like a non-story.

[Francis M.]

Funnily enough, this is the same type of crap our current President does. Doesn't mean what people think it means. It's a tax loophole that rich ppl use to get to pay taxes when they want to.

Does Trump have a judgement lien on him?

[Butch.McRae]

It's not that common to owe taxes after filling. Lawyers and accountants find loopholes prior to filling. Floyd just owes money and is not as liquid as he advertises to be.

This is partially wrong. He's obviously paid taxes (which is why his liability is so low). The issue here seems to be non-boxing related income.

In that case, he'd get notice that he owes based on their records (analysis), then he'd appeal. This process will likely result in settling for a lower number than was quoted by the IRS. It's very common.