Floyd Mayweather files tax petition, asks IRS for temporary reprieve on 2015 taxes.
Boxer Floyd Mayweather says in court petition that he is unable to pay what he owes on his 2015 taxes until he collects his check from next month's fight with Conor McGregor.
According to Law360.com, Mayweather asked a tax court for a reprieve until after the Aug. 26 fight with McGregor as his current assets are "restricted and primarily illiquid.”
The petition, which was filed on July 5, is based on the Internal Revenue Service initially refusing a short-term installment plan, citing the fact that Mayweather has the means to pay the debt immediately.
"Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," the petition said. "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 is not known how much Mayweather owes in back taxes.
Mayweather (49–0, 26 KOs) has not fought since beating Andre Berto in September 2015. It has been reported that Mayweather made $32 million for the Berto fight.
The 12-round fight against McGregor will be fought at 154 pounds and Mayweather's purse could approach what he made for his May 2015 fight with Manny Pacquaio, which was estimated at $220 million.