Floyd Mayweather Fights Back Against Reports He Owes The IRS Money
(AllHipHop News) Was 50 Cent right when he questioned the reports saying his frenemy Floyd Mayweather was having problems with the Internal Revenue Service?
The G-Unit boss expressed his thoughts on the boxing legend's supposed tax problems on a since-deleted Instagram post.
"Man this is some bullsh-t, FLOYD was just on face time with me. He had 20 million cash with him," wrote 50. "He must just don't want to pay. LOL."
Mayweather pushed back against the claims he filed a Tax Court petition asking the IRS for a reprieve until after his August 26 fight against Conor McGregor.
Mayweather stated on his own IG page:
Believe half of what you see and none of what you hear, especially when it comes to media in this country. While everyone is counting my money and assuming the worst, these are the facts... Uncle Sam, received $26,000,000.00 from me in 2015! What else could they possibly want? I'm sure I would have been notified much sooner if there were any real discrepancies right? Bottom line, everybody just wants to be a part of the "Money May" show, including the IRS! That's fine, you can crunch numbers all day but in the end, my empire is rock solid and intact! Now Calculate That!
The legal websiteLaw 360 reported the 40-year-old prizefighter filed the petition on July 5.
"Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," read the petition, according to 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."
Mayweather is estimated to make as much as $400 million from the McGregor bout.
In 2016, Forbes calculated The Money Team leader's net worth to be $340 million.