Pacquiao You Owe IRS $18 Million!!!

By law, the purse money earned by for­eign prize fight­ers in the US, like Manny Pac­quiao, should be sub­ject to 30% with­hold­ing by their agents, such as pro­mot­ers. In this case, did Manny’s pro­moter Top Rank act as its with­hold­ing agent? If so, did it fail to with­hold 30% of his win­nings?

Manny Pac­quiao Socked by IRS: YOU OWE US $18 MILLION!!!

Manny Pacquiao Owe IRS $18 Million

Posted in Blog, IRS Newswire, Tax Planning