Popular boxer Manny Pacquiao is known for putting a hurting on his opponents when he steps into the ring. However, it seems as though Uncle Sam is getting the best of him. Pacquiao owes the United States government a little over $18 million in back taxes.
According to legal documents, Manny didn’t pay federal taxes from 2006 to 2010. In those years, the boxer had quite a few major fights that netted him tens of millions of dollars. So the debt Manny Pacquiao has racked up totals $18,113,668.79 and the IRS wants their money immediately.
Check out the yearly breakdown of Pacquiao’s debt:
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
if you remember, Pacquiao fought Oscar De La Hoya in 2008 and earned a guaranteed $15-$30 million for the bout. The following year, he walked away from a fight with Ricky Hatton with $12 million in his pockets. Despite earning so much money, this isn’t the first time Pacquiao has had issues with paying taxes.
Pacquiao is also fighting the government in his native Philippines over taxes. That government claims Pacquiao didn’t pay taxes in 2008 and 2009. The taxes Manny owes in the Philippines is a result of some fights he had in the United States in the aforementioned years. The tax people in the Philippines are a little more fed up than the United States because they have frozen all of Pacquiao’s bank accounts in the Philippines and even placed a lien on his most expensive property in the city of Manila.
Pacquiao beter get it together.
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