@Intrepid- They are getting him for lack of payment and penalties for the period of 2006 through 2010 according to reports. The IRS feels he either understated income, overstated expenses (along with deductions & credits) or both during that period. Just because Manny filed a return for those periods it doesn't let him off the hook if the IRS feels there are material issues. I don't know what type of agreement the U.S. has with the Philippines, but most major countries have treaties in place to protect them from people shipping money around to avoid repayment. Combine that with local tax issues, Manny is in for a fight he wont win.
If Pacquiao doesn't pay up he may not be able to make any money to help himself or Bob Arum. Even if he does fight government may take all his money. He can't just leave Arum though. Arum would have contractual rights to block the fight if Pacquiao tried to do it outside of him...and Bob would sue him until he lost mote than he could gain.
I just dont know how the IRS can tax a person who aint even their citizen... pac aint american, aint a citizen of the united states nor an immigrant otherwise he cant run and be a philippine congressman, why would he pay taxes to a government that aint his... he did his gigs in the US, the irs can and slready taxed those gigs... so whats this $18M the IRS is suing pac for...
any tax lawyers here?
@cortez
wtf, you must be a tax lawyer, cus i called for one... one question though, if youre justin beiber and an organizer hired you to perform in a concert somewhere in timbuktu, do they tax the concert? the income of the concert? the organizer? can they tax your talent fee?
I mean, how can you tax a foreign performer who flies away after every gig?
@ Intrepid
Are you serious? Do you not know how tax systems work? You pay taxes wherever you make money. Citizenship doesn't matter. If you are going to benefit from a society you have to pay that society back. Fighting in the U.S. made Pac one of the richest boxers in the world. If he never came to America and stayed in the Philippines he would be nowhere near as prominent as he is.
Leaving or staying with Arum makes no difference. Floyd wouldn't fight Pac period. Hell Floyd would give out his belt, shorts, underwear, etc for Pac just to leave the FOCK away.
I was just curious because Pacquiao supposed to be flying to Vegas to talk to Floyd face to face about a fight because it's such a big money fight ,is this due to Pacquiaos dire financial issue? .....Would he leave Bob Arum to make this fight happen in order to stay out of jail?