Boxer Floyd Mayweather Pays $5.6M in Back Taxes
Professional boxer Floyd Money Mayweather, Jr., has agreed to pay the IRS $5.6 million in back taxes to avoid having federal officials take the money from his winnings in a welterweight bout.
Mayweather, who has won six world boxing championships in five different weight classes, defeated Juan Manuel Marquez, the World Boxing Organization and World Boxing Association lightweight champion, in a nontitle bout in Las Vegas last Saturday.
Earlier this month, the IRS sent the Nevada Athletic Commission a levy notice ordering officials to deduct the $5.6 million that Mayweather owes on his 2007 taxes from the $10 million fight purse, according to the Associated Press.
Mayweather agreed to pay off his tax debts and the IRS relented. According to Mayweathers tax attorney, the fighter has now settled all of his tax debts.