Boxing champion Floyd ‘Money’ Mayweather is no longer in debt to Uncle Sam after paying a whopping $22 million to the Internal Revenue Service last month.
The US government slapped the famous pugilist with a federal lien back in April, accusing him of owing back taxes from 2015.
That action came after Mayweather fought welterweight boxing great Manny Pacquiao, earning over $200 million dollars for the fight.
Floyd Mayweather Jr. sits onstage during a news conference on August 26, 2017 at T-Mobile Arena in Las Vegas, Nevada
The government claimed that Mayweather had failed to pay taxes on his earnings for the bout, which totaled more than $20 million.
After the lien was filed, Mayweather sued the IRS in order to get reprieve from the action, buying time until he could have his latest fight with Connor McGregor on August 26, 2017.
Internal Revenue Service (IRS) office building in the East Harlem neighborhood of New York, U.S., on Saturday, June 24, 2017
Online publication The Blast reported Mayweather earned an estimated $300 million in the 10-round fight against Irish-born McGregor.
Conflicting reports, however, put the number closer to $100 million, with ESPN citing contract details from the Nevada State Athletic Commission.
Following the payout, Mayweather paid the full $22,238,255.00 owed to the IRS, with the government filing a motion to withdraw the lien last month.
Mayweather announced his retirement from boxing following the McGregor duel, remaining undefeated in his career with a 50-0 lifetime record.
According to the IRS website, ‘a federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt.’
Floyd Mayweather Jr. (R) avoids a punch from Conor McGregor in the first round of their super welterweight boxing on August 26, 2017
The US government slapped the famous pugilist with a federal lien back in April, accusing him of owing back taxes from 2015
That action came after Mayweather fought welterweight boxing great Manny Pacquiao, earning over $200 million dollars for the fight