Floyd Mayweather Jr. may be undefeated in the ring, but the boxing champion could lose a couple million dollars due to tax problems. The IRS currently has Mayweather on the hook for $7.2 million in taxes for 2010, and that is on top of the $22.2 million the undefeated boxer owes for 2015. Mayweather filed a petition back in July that argued that the boxer, who earned $200 million for his fight against Manny Pacquiao, doesn’t have the cash on hand to pay his debt for 2015. The IRS refused a direct request by the fighter to pay in installments until he is paid for the Conor McGregor fight. The agency says it intends to levy Mayweather. This latest episode comes after Mayweather paid $15.5 million for over 5 years of taxes. Mayweather paid the debt only after the IRS filed liens against him. While waiting on the petition to make it to tax court, the IRS could seek to withhold Mayweather’s winnings from the McGregor fight by arguing that he wouldn’t pay his taxes otherwise.
Michael “The Situation” Sorrentino got himself into a not so great situation with the IRS. The Department of Justice announced that Michael and his brother Marc, have been indicted on charges including tax evasion, structuring and falsifying records. Mike has already been charged with two counts of filing false tax returns and one count for allegedly failing to file a tax return. Marc has also been charged with falsifying records to obstruct a grand jury investigation. Investigators allege that the two men used two companies they owned and managed to evade taxation. Investigators also allege that the brothers conspired to defraud the government by not paying all federal income tax owed on the approximately $8.9 million that Michael earned between 2010 and 2012.The two men have both pleaded guilty to violating federal tax laws, now Michael could face up to 5 years in prison for the charge.
And Mike “The Situation” isn’t the only reality T.V. star getting into tax trouble. Reality T.V stars Todd and Julie Chrisley, from the popular reality TV show ‘Chrisley Knows Best’, have more than $700,000 worth of liens filed by the state of Georgia for unpaid state taxes. The couple has not filed state income taxes from 2004 all the way to 2011, according to a former bankruptcy attorney. Georgia has up to seven years to collect on past taxes (unlike the state of Oklahoma that can collect past taxes for the rest of your life). The Chrisley’s have supposedly claimed residency in Florida in the past (no state taxes!). Last year, the Chrisley clan moved to Nashville, TN where (surprise!) there are no state taxes.