Floyd Mayweather Confronts Travel Ban Due to Significant Unpaid Tax Debt
IRS Takes Steps to Revoke Boxer’s Passport Before International Exhibition Matches.
Floyd Mayweather is discovering that the tax man can be a far more formidable adversary than anyone he has ever encountered in the ring.
Although fans online have been speculating about his finances for some time, a recent report indicates he is confronting a significant challenge from the federal government.
Court documents reveal that the IRS is seeking to hinder the undefeated champion by revoking his passport due to a substantial amount of debt.
The pressure began to escalate in late March when the IRS allegedly issued a notice. The agency announced its plan to inform the U.S. Department of State and revoke his U.S. passport because of the purported tax debt.
The timing is particularly unfortunate for the boxer. A few weeks later, Mayweather revealed his plans to travel to Athens, Greece, for an exhibition match against Mike Zambidis on June 27. If the government proceeds with revoking his travel rights, he will be unable to board the plane to earn that money.
This tax situation is overshadowing numerous significant earnings. Mayweather is set for a significant rematch with Manny Pacquiao in Las Vegas on September 19. Although that fight is taking place in the United States, he has also engaged in discussions for an exhibition overseas with Mike Tyson. Without a valid passport, it becomes impossible for him to compete outside of the U.S.
Mayweather’s required payment is significant. According to the examined documents, Mayweather is reported to owe the IRS more than $7.25 million in liens and levies. He has limited options if he wishes to continue flying. To halt the revocation and continue participating in international tours, he could reportedly pay the debt in full, negotiate an installment agreement or settlement with the Department of Justice, demonstrate that his tax debt is uncollectible due to financial hardship or identity theft, or file for bankruptcy.
Currently, we are still in a period of anticipation to determine whether the State Department has officially revoked his travel documents. While there has yet to be a confirmation regarding the status of his passport, the impending fight in Greece places significant pressure on Mayweather to resolve the matter before his international business operations face disruption.
