Pacquiao Bank Deposits Frozen

[jake]

A copy will be sent over from the IRS in a couple of weeks and that`ll be an end to it..
Job done.

Perhaps not!

Manny Pacquiao Reportedly Owes IRS $18 Million

Manny Pacquiao's next fight may be with the United States government, as reports have surfaced that the Filipino boxer owes the IRS more than $18 million in back federal income taxes.

According to official documents obtained by TMZ, Pacquiao failed to pay income tax on his earnings from 2006 to 2010, with his official debt totaling $18,313,668.79. The 34-year-old welterweight, who turns 35 on Dec. 17, spent much of his rise to prominence fighting overseas but began gravitating toward large United States-based spectacles as his international fame rose.

Pacquiao fought 12 times from 2006 to 2010, all but one of which were in the United States. Three of those bouts took place in Texas, which does not have a state income tax, but he would still be subject to federal income tax.

TMZ had the year-by-year breakdown on the individual totals Pacquiao owes the IRS:

2006: $1,160,324.30
2007: $2,035,992.50
2008: $2,862,437.11
2009: $8,022,915.87
2010: $4,231,999.01

The increases in amount owed seem to coincide with Pacquiao's rise to arguably the most popular boxer in the world. In 2008, he defeated Juan Manuel Marquez, knocked out David Diaz and stopped Oscar De La Hoya in the eighth round. A year later, he scored high-profile knockouts of Ricky Hatton and Miguel Cotto.

http://bleacherreport.com/articles/1...irs-18-million

[fred]

Perhaps not!

Manny Pacquiao Reportedly Owes IRS $18 Million

Manny Pacquiao's next fight may be with the United States government, as reports have surfaced that the Filipino boxer owes the IRS more than $18 million in back federal income taxes.

According to official documents obtained by TMZ, Pacquiao failed to pay income tax on his earnings from 2006 to 2010, with his official debt totaling $18,313,668.79. The 34-year-old welterweight, who turns 35 on Dec. 17, spent much of his rise to prominence fighting overseas but began gravitating toward large United States-based spectacles as his international fame rose.

Pacquiao fought 12 times from 2006 to 2010, all but one of which were in the United States. Three of those bouts took place in Texas, which does not have a state income tax, but he would still be subject to federal income tax.

TMZ had the year-by-year breakdown on the individual totals Pacquiao owes the IRS:

2006: $1,160,324.30
2007: $2,035,992.50
2008: $2,862,437.11
2009: $8,022,915.87
2010: $4,231,999.01

The increases in amount owed seem to coincide with Pacquiao's rise to arguably the most popular boxer in the world. In 2008, he defeated Juan Manuel Marquez, knocked out David Diaz and stopped Oscar De La Hoya in the eighth round. A year later, he scored high-profile knockouts of Ricky Hatton and Miguel Cotto.

http://bleacherreport.com/articles/1...irs-18-million