According to Floyd Mayweather, the boxing legend paid $26 million in taxes for 2015.
And according to the IRS, the man that goes by “Money” came up short that year.
On July 5, the undefeated 40-year-old filed a Tax Court petition seeking to delay payment on what he owes until after his August 26 fight with Conor McGregor. Or as the petition calls it, “a significant liquidity event.”
“Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” the petition said, as reported by Law360. “The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding.”
According to ESPN, Mayweather owes the IRS $22.2 million.
On Monday, Mayweather, who according to Forbes is worth $340 million, took to Instagram to comment on the situation.
Believe half of what you see and none of what you hear, especially when it comes to media in this country. While everyone is counting my money and assuming the worst, these are the facts… Uncle Sam, received $26,000,000.00 from me in 2015! What else could they possibly want? I’m sure I would have been notified much sooner if there were any real discrepancies right? Bottom line, everybody just wants to be a part of the “Money May” show, including the IRS! That’s fine, you can crunch numbers all day but in the end, my empire is rock solid and intact! Now Calculate That! #TMT #FloydMayweather #TBE #Mayweather
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Law360 reported that the IRS had ruled that Mayweather had the assets to pay his charge by several means, including taking out a loan or selling property.
Mayweather made an estimated $220 million on his May 2, 2015, victory over Manny Pacquiao.