Roy Jones vs Max Alexander, Dec 10 in Atlanta

Can some please explain to me why boxers owe this "IRS" so much damn money?

 

I hope this guy lays down for Roy then Roy calls it a day !

 

Doesn't an amount owed to the IRS multiply with interest/back interest until fully paid?

Happened to alot of boxers who were ill-advised, not properly managed during their career. Roy wanted to be his own man from early on in his career. Did he even have a manager or promoter?

Floyd's case was a little more baffling, he has Haymon and Ellerbe to advise him on financial matters.

 

Did he spend all his money or what?

 

IRS says he didn't pay taxes in 2 of his highest earning years and now he owes them back taxes with interest.

http://msn.foxsports.com/boxing/story/Roy-Jones-Jr-back-taxes-040711

Hot off the heels of Floyd Mayweather’s $3.4 million debt to Uncle Sam, it was revealed Thursday that former four-division champ Roy Jones Jr. is also having problems with the IRS.
According to The Detroit News Tax Watchdog website, the 42-year-old Jones owes over $3.5 million in back taxes from a $629,085 lien filed against him on March 21 with the Santa Rosa County Clerk in Florida and a $2,946,650 lien filed Feb. 11, 2008, in Santa Rosa County, claiming failure to pay taxes from 2003 and 2004.
Jones is scheduled to get back in the ring, May 21st against cruiserweight, Denis Lebedev in Moscow, Russia.
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He can't pay the IRS

I believe it was his promotional company and music label that cost him the most money.

 

Sorry bro but that is bull ****. Jones is broke and has been for sometime. He didn't even get paid for the Hopkins fight because he negotiated such a bad deal. :roflatsch Dan Rafael had a blog post about Jones and his finances about a year ago......

 

Roy doesnt need to fight, he has plenty of options to make money off his name. He just loves to compete. I have no problem with this fight and neither should anyone else. If you do then you should find another sport because more than half the fighters in boxing have taken worse beatings than Roy. He should retire, but people be should easily beat this guy and any commision should allow it. If it was Jones-Klitchko then id object to it but this isnt.

 

Yeah Roy most definitely needs to fight to make a living.

 

What happens if he declares bankruptcy? Will the IRS debt be written off? That could be a better way out. He can then rebuild his finances off his name and with his HBO career.

 

Roy jones will end up with Parkinson's

 

You can't discharge IRS debt. I'm guessing he is just fighting to pay them off. He also went back to HBO, a company he said he wasn't going back to, just becase he needs the cash.

 

I dunno about that, this is what I got from a quick google:

Five Rules to Discharge Tax Debts




If the income tax debt meets all five of these rules, then the tax debt is dischargeable in Chapter 7 and Chapter 13 bankruptcy petitions.

1. The due date for filing a tax return is at least three years ago.
2. The tax return was filed at least two years ago.
3. The tax assessment is at least 240 days old.
4. The tax return was not fraudulent.
5. The taxpayer is not guilty of tax evasion

However:

Some Tax Debts Not Dischargeable

Tax debts that arise from unfiled tax returns are not dischargeable. The IRS routinely assesses tax on unfiled returns. These tax liabilities cannot be discharged unless the taxpayer files a tax return for the year in question.

http://taxes.about.com/od/bankruptcy/qt/bankruptcy_tax.htm
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Unless Roy didn't bother lodging tax returns for those years, he could be eligible under that criteria

 

Come on now. If he didn't learn from Johnson, Tarver, Ledbubu, Joe Cal and Green then what makes you think he will now

 

I hope he sorts his financial matters out.... really tragic ****.

 

It is extremely sad, I hope he can find a steady job so that he could work out a payment plan with the IRS and stop putting his life at risk.