Floyd Mayweather Jr., the undefeated boxing champion, has faced scrutiny regarding his tax obligations on multiple occasions throughout his career. While he has not been formally charged with tax evasion in a criminal court, he has had several significant issues with the Internal Revenue Service (IRS) resulting in substantial tax liens and payment plans. Details of Mayweather's Tax Issues: 2008 Tax Lien: In 2011, reports surfaced that Mayweather owed the IRS $3.4 million for unpaid federal income taxes from 2009. This was not his first encounter with tax issues, as he had reportedly been served with a $6.1 million tax bill in 2008. He worked out a payment plan with the IRS to address the 2008 liability. 2015 Tax Debt: Following his lucrative fight against Manny Pacquiao in 2015, where he reportedly earned around $200 million, Mayweather faced a significant tax liability. By July 2017, reports indicated he owed the IRS over $22.2 million in taxes for that year. A federal tax lien was filed in Las Vegas in April 2017 concerning this unpaid amount. Mayweather requested a three-month installment agreement to pay the debt, stating that his assets were "restricted and primarily liquid." However, the IRS denied this request, reasoning that with his high income, he possessed sufficient assets to cover the bill. His tax attorney suggested that the delay in payment was part of an overall investment strategy, aiming to retain investments with earnings that could potentially exceed IRS penalties and interest in the short term, especially with an upcoming fight expected to generate substantial income. Claims of Tax Avoidance Schemes: In 2023, Mayweather was involved in a real estate deal where his legal team became concerned that he might be an unwitting participant in a potential tax avoidance scheme related to a Bel Air property. The deal involved a Nevada-based holding company, raising suspicions of an attempt to circumvent California property taxes and state income tax. Mayweather ultimately did not proceed with the purchase due to these concerns, stating he "didn't want to be part of cheating people." It's important to distinguish between tax avoidance and tax evasion. Tax avoidance involves legally minimizing tax liability through permissible means, while tax evasion is the illegal failure to pay or underpayment of taxes. While Mayweather has faced significant tax debts and scrutiny, he has not been found guilty of tax evasion in a criminal court. His issues have primarily revolved around the timing and methods of payment of his considerable tax obligations. The IRS generally freezes collection activity when a taxpayer formally contests a lien, which Mayweather appeared to be doing by petitioning the U.S. Tax Court. Penalties for unpaid taxes can include interest on the delinquent amount and additional penalties for failure to pay on time or failure to make estimated payments. The IRS may also accept an Offer in Compromise (OIC) under certain circumstances, such as doubt about the liability, doubt about the ability to collect the full amount, or when acceptance would promote effective tax administration. Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, commenting, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favour of fair use Disclaimer: Content might be gossip, rumors, exaggerated or indirectly besides the truth. Viewer advised to do own research before forming their opinion. Content might be opinionated. Get ready—because after this, nothing will look the same. 🔔 Subscribe for more exclusive updates and hidden truths behind the headlines. #FloydMayweather #Diddy #FBIinvestigation #CelebrityScandal #BreakingNews #HollywoodSecrets