Floyd Mayweather Asks IRS for Tax Reprieve Until After McGregor Fight

Floyd Mayweather has filed a petition with the IRS stating he cannot pay his 2015 tax liability until after he is paid for his upcoming fight with Conor McGregor. Mayweather, who has made an estimated $700 million across 49 career fights, told the court in his petition that his assets are mostly illiquid and restricted. According to the petition, Mayweather 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.”

Mayweather’s payday from his Aug. 26 bout with McGregor is expected to be around $100 million. How much Mayweather owes in back taxes is unclear. If the IRS is penalizing Mayweather the typical 0.5% for each month his taxes are past due, Mayweather would owe an additional 7.5% penalty on top of his bill.

Read ESPN’s report here:
http://www.espn.com/boxing/story/_/id/19952963/floyd-mayweather-leans-conor-mcgregor-bout-tax-petition-asks-irs-temporary-reprieve

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