According to a new report, Mayweather is currently owing the IRS $22.2 million, and it’s been suggested the only reason he’s fighting Conor McGregor is to pay off his debt.
Deadpan did a huge digging into Floyd’s financial record and found out that Money has a history of running up huge tax bills.
“It came out recently that Floyd Mayweather owes the IRS a whopping $22.2 million, but documents show that that big number is the least of it. The famous boxer— who routinely brags about his wealth, and even goes by the nickname ”Money” has had trouble paying his taxes on time for more than a decade. The IRS has filed more than two dozen pages of tax liens (and release from those liens) in the boxer’s name Clarky County, Nev, since 2004,” Deadpan reports. “At various points, according to lien documents, he has owed $3.1 million, $6.1 million, and $7.1 million to the feds. May weather has taken in millions in earnings and owned his own promotional company, dubbed “The Money Team,” but that hasn’t kept him from running up enormous tabs, some of which have gone unpaid, according to public records.
Floyd’s team were quick to clap back at the report, claiming not paying taxes is part of a strategy.
“Floyd’s a save investor and if he is investing money and getting a rate of return that far exceeds what he has to pay the IRS in interest, then any smart business person is going to take advantage of that deferral. So Floyd’s looking at this and saying this is a better business decision to just defer my taxes until it’s the best time for me to pay it. So we’ve taken advantage of that,” Floyd Mayweather’s tax lawyer, Jeffrey Morse, explains.”
Well, that could be true. But it’s sure not a famous strategy since any investment can always go north. In the past, Money could settle things off with Uncle Sam by scheduling another fight. But, at 40, Floyd can’t do that for too much longer. Which means he’s going to have to cut down his spending or else he will end up like his (sometimes) good buddy 50 cent.