IRS seeks $7.3 million from Floyd Mayweather

Floyd Mayweather Jr., the renowned boxer and business mogul, is now confronted with a $7.3 million lien from the IRS due to unpaid taxes from 2018 and 2023. This notice was officially filed last month in Las Vegas, where Mayweather owns property. As of March 26, the outstanding balance remained unsettled. An attorney representing Mayweather chose not to comment on the tax lien, which allows the government to claim Mayweather's property until the debt is cleared. This lien adds to a growing list of financial issues for the 49-year-old fighter, as highlighted by Business Insider. In the midst of these financial challenges, Mayweather is also making headlines for his return to boxing. He is set to participate in an exhibition match against Mike Tyson in April, followed by a professional bout against Manny Pacquiao in September at The Sphere in Las Vegas. Earlier this year, Mayweather initiated legal action against Showtime, claiming $340 million in misappropriated funds related to his 2013 pay-per-view deal, although Showtime has refuted these allegations. Compounding his legal troubles, Mayweather's associate, Jona Rechnitz, received a five-month federal prison sentence last month due to a public corruption case. Despite his significant career earnings, reported to exceed a billion dollars, Mayweather has faced previous tax issues. In 2023, a U.S. Tax Court judge mandated him to pay $5.5 million in tax deficiencies alongside $1.1 million in penalties for 2017. Additionally, he settled a prior tax dispute with the IRS for $22.2 million concerning his taxes from 2015, the year of his last bout with Pacquiao. Known for his extravagant lifestyle, which includes luxury homes, designer apparel, and private jets, Mayweather has recently sold several high-profile assets including his private jet and properties in Miami and Beverly Hills. Some of his remaining assets, such as multiple residences and a strip club in Las Vegas, have been leveraged for debts owed to billionaire financier Don Hankey. Despite these financial strains, Mayweather's attorney has stated that he is not under any financial duress. In a recent Instagram post, Mayweather himself remarked, "I just be minding my business!" while showcasing his lavish lifestyle, complete with stacks of cash and luxury luggage. It’s worth noting that Mayweather has also filed a defamation lawsuit against Business Insider related to earlier reporting on his real estate ventures, a case that is still pending.