LAWYERS of boxing superstar Manny Pacquiao in the United States announced yesterday that the tax lien issued by the Internal Revenue Service (IRS) against the fighter’s US properties is “in the process of being lifted.”
The IRS had issued a notice of federal tax lien against Pacquiao for allegedly failing to settle $18 million in taxes between 2006 and 2010.
Pacquiao has denied allegations that he owes the US government any money and said his US promoter, Bob Arum, has all the documents to prove that he paid all his taxes.
“There have been numerous public reports about tax issues involving boxing superstar Manny Pacquiao,” the boxer’s tax attorney Steven Toscher, of Hochman Salkin Retting Toscher & Perez, P.C., and counsel David Marroso, of O’Melveny and Meyers, said in a statement carried by The Ring website.
“Many of those reports have contained inaccurate and misleading information and were triggered by the filing of a federal tax lien. The lien is in the process of being released by the Internal Revenue Service.”
Toscher and Marroso stated that the IRS “has abated the tax assessments against Manny which triggered the filing of the lien and has released or is in the process of releasing all federal tax liens and levies.”
Toscher said Pacquiao is serious about his tax obligations and will continue to work with the IRS to resolve any outstanding tax issues.
The attorneys emphasized that matters regarding Manny’s finances and tax matters are confidential, and both the IRS and his advisors “have respected his privacy and continue to focus their attention on the facts, not misleading rumors perpetuated by others.”
Pacquiao’s counsel in Manila, Tranquil Salvador, insisted that the tax lien on the US properties of the world’s only eight-division champion had been lifted, adding the IRS move will help his client resolve all outstanding issues against him in the US and the Philippines.
“The lien (against Pacquiao in the US) has been lifted,” Salvador told ABS-CBN sportscaster Diane Castillejo. “So all of Pacquiao’s properties are not affected anymore. He is now free to do whatever he wants with his properties.” Steve Silva, Contributor