Mayweather Tax Lesson – You Can’t Fight the IRS alone!

IRS liens?  You are not alone.  The highest paid athlete over a course of multiple years has struggled to be compliant with his tax liability.  The gravity of the IRS liens has dictated his career and decision to come out from retirement.

Floyd Mayweather Jr. could bank approximately $300 Million for the August 26, 2017 fight against Connor McGregor – which the IRS will collect close to $89 Million.

Mayweather has a larger IRS issue(s) – dating back to early 2000’s – with the most recent tax situation stemming from the 2010 lien from the massive payout for the Shane Mosley. Court records show a lien for $7.2 Million.  However, ESPN reported – through attorney statements: “the 2010 lien is no longer valid.”  We can only speculate why.

Why would Mayweather go out of retirement for another time in the ring?  Tax liability.

The bigger issue is the other multiple years of failing to pay the IRS.  The recent catalyst seems to be the 2015 payout from the fight with Manny  Pacquiao in September of 2015, where he allegedly pocketed $300 Million.

Mayweather filed a petition in US Tax Court to stall IRS collection proceedings – after the IRS denied a short-term installment plan. Why did the IRS deny the short-term installment?

Maybe Mayweather had the ability to pay given his substantial net worth – or his record for failure to pay the IRS after multi-million dollar winnings dating back to 2001?

This is an example for all taxpayers with IRS Problems.

Do not wait until you have to do another “fight” to knock out your problems with the IRS.

Mention “Mayweather” to receive a $25 gift card at your consultation with a tax attorney to “knock out” your tax problems!