Floyd Mayweather’s representatives are asking for a reprieve on his 2015 taxes until after he earns his purse from the Aug. 26 fight against Conor McGregor, according to a report from ESPN.
Floyd Mayweather says he can’t pay his 2015 taxes until after Conor McGregor fight
James Dator has been covering a wide range of sports for SB Nation for over a decade, with a special focus on the NFL.
A petition was filed to tax court on July 5, which claims Mayweather doesn’t have the assets on hand to pay his outstanding tax bill.
“Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” the petition said, according to the legal website 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.”
It’s unclear how much Mayweather owes, but not having liquidity on hand isn’t exactly a rarity for the extremely wealthy. Money is often tied up in real estate, investments, or business ventures — it’s not like they have giant pits of money like Scrooge McDuck that they can pull from whenever a bill comes due.
The IRS needs to understand this. It’s waited for over a year; what’s another six weeks or so? Again — it’s not like Floyd just has cash everywhere that he could use in this kind or situation. Let’s spell this out a little clearer for you, feds:
This money isn’t for you, IRS.
Neither is this.
This money DEFINITELY isn’t for you.
And don’t even think about asking for this.
People don’t just HAVE money to show off, you know.
So take Floyd’s word for it ...
when he says he doesn’t have the cash on hand.
Glad we cleared that up.
UPDATE: According to ESPN, Mayweather owes a little over $22 million on his 2015 taxes.
