Floyd Mayweather Lacks Cash For Taxes Until After Fight

Law360, Washington (July 7, 2017, 2:11 PM EDT) -- Boxing champion Floyd Mayweather Jr. doesn’t have enough cash on hand to meet his 2015 tax liability, according to a Tax Court petition asking for a reprieve until after an upcoming fight because his current assets, while “substantial,” are “restricted and primarily illiquid.”

The petition, filed July 5 and served two days later, asks for a short-term installment agreement of under three months after the IRS refused based on a finding that Mayweather had adequate assets to meet the unspecified liability. Mayweather doesn’t dispute that he has the money, according to the petition — just that he won’t have ready cash...

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