Irs News

As Energy Future Holdings prepares for what could be one of the largest-ever U.S.

The Philippines' Bureau of Internal Revenue (BIR) appears to have scored another legal victory in its effort to collect outstanding tax dues from Manny Pacquiao and wife Jinkee estimated at $50 Million.

Top Rank Promotions owner Bob Arum is reportedly paying eight-division world champion Manny Pacquiao a guaranteed sum of $20 million to face unbeaten WBO welterweight champ Timothy Bradley in a rematch at the MGM Grand in Las, Vegas, Nevada.

Floyd Mayweather has been busy in the last couple of days engaging potential opponent Manny Pacquiao in a comical and sometimes insulting play of words to make it appear that he is now ready to face Pacquiao in the ring after three years of failed talks.

Filipino boxing superstar Manny Pacquiao could lose every cent he expects to make in his upcoming fight in the U.S. which is tentatively scheduled for April or May possibly against unbeaten American boxer Timothy Bradley or Mexican Juan Manuel Marquez

I don't have anything bad against Manny Pacquiao's Canadian Adviser Michael Koncz, who is reportedly acting or has acted as manager of MP Promotions USA, Inc., a Las Vegas, Nevada, registered company reportedly owned by Pacquiao.

If Manny Pacquiao gets $18 million — the same amount he was reportedly paid by his promoter when he fought Brandon Rios in Macau — it won't be enough to settle his tax obligations with the US Internal Revenue Service (IRS).

Manny Pacquiao's promoter Bob Arum says his company, Top Rank Promotions has been religiously remitting at least 30% of Pacquiao's taxable income in the US to the Internal Revenue Service (IRS) but a TMZ report says Pacquiao still owes IRS $18 million.

Filipino boxing superstar Manny Pacquiao has about eight years to prepare for the 2022 presidential elections if indeed he has the presidency in mind.

Believing many small businesses under-report cash sales, the IRS has targeted thousands of small businesses with a high volume of credit card sales. Businesses that receive a letter on the issue have 30 days to respond.