Pacquiao dispatches Koncz to the States | Tempo Sports News Philippines
 
 

Pacquiao dispatches Koncz to the States

MANNY Pacquiaoby Nick Giongco

Manila, Philippines – Manny Pacquiao has dispatched his Canadian adviser to the United States to check on two pressing matters: tax issues and details of his April 2014 fight.

Mike Koncz left for the US over the weekend carrying specific instructions from the Filipino boxing hero focusing mainly on his tax woes.

“I am here to meet with our lawyers,” said Koncz from Los Angeles yesterday.

The Internal Revenue Service (IRS) said Pacquiao owes the US government $18 million in back taxes stretching back to 2006, but the fighter, who turned 35 yesterday, said his promoter Top Rank had been religiously deducting 30 percent from his ring earnings and endorsement through the years.

The country’s Bureau of Internal Revenue (BIR) is also chasing Pacquiao for alleged unpaid taxes amounting to P2.2 billion.

Renowned tax lawyers, led by Steven Toscher, are handling Pacquiao’s case and Koncz said they are all upbeat that the amount his boss is going to end up paying will be considerably less than the declared $18 million.

Koncz said he would also be hooking up with Top Rank head Bob Arum to know what is down the road for Pacquiao as Arum has already penciled an April 12 date for his return and that the MGM Grand in Las Vegas will be the venue.

The identity remains a mystery as there are mixed signals coming from all directions.

Being mentioned are Juan Manuel Marquez, Tim Bradley and Ruslan Provodnikov of Russia although even Floyd Mayweather’s name is being floated.

Mayweather is seeing action on May 2 and aside from Amir Khan of England, Mayweather has mentioned Pacquiao as a possibility although Golden Boy Promotions sounded off that Pacquiao is not on its radar screen.

But reports from Mexico City say that a rematch between Marquez and Bradley is close to being done for March 2014 in San Antonio, Texas. Bradley had beaten Marquez last October on points.

Pacquiao is coming off a rousing victory over Brandon Rios in Macau last month.

  • joey gonza

    March 2014 ? Not enough time for promotion and preparation.
    PAC, FIRE KONCZ AND ARUM. They are thieves.

  • Nick

    Bradley-Marquez in March? No one wants to see Bradley-Marquez anymore! Why not let Pacquiao fight Bradley first?

  • Joey Peralta

    IRS report..is questionable,remember in 2006 to 2008 Pacman was fighting for peanuts..with Dela Hoya fight he got only 4 to 6 million.

  • solamente

    Bopol talaga. Walang kadala dala sa inutil na alalay. Siguro kinulam si pacman ni koncz kaya parang sunud sunuran sa alalay.

  • Atagalong

    Manny Pacquiao’s money earned in the U.S.is taxable at the 36% bracket. Just wonder why only 30% was withheld to pay for his taxes. His lawyer should have apprised him of his tax liability here in the U.S. Bob Arum and Michael Konzc, I am pretty sure, know about the tax brackets here. Deductions are made through Manny’s tax return; the IRS will shift through them and see what are those legitimate deductions and which are not. Whoever prepared Manny’s income tax return should have presented receipts and other documentation acceptable to the IRS. We don’t expect Manny to know the tax laws in the U,S. but the professionals handling his tax do.

  • Vher Cortes Magallanes

    Dapat kumuha si manny ng pinakamagaling na tax lawyers,mahusay magresearch ng tamang batas.pangalawa pag-aralan at manmanan niya ang mga taong nasa kanyang bakuran o sa labas ng kanyang bakuran.pangatlo, ipaubaya niya lahat sa Diyos at siya na ang hahawak .panghuli,wag niyang ilagay lahat ng pera sa banko ng pinas ,idi posit niya sa surich,netherlands sa neutral country ,gayahin niya si joma sison at mga kasamahan para di magalaw ang pera niya ng mga hudas.

  • ibarra

    Pac shld have learned better after all of his previous setbacks. He needs sound decision on his tax woes & seek for a broader fight options with Arum. Consider Mayweather or Golovkin as future opponents & avoid recyclables in-house fights. Honor-Legacy-Respect

  • Patricio Gabuya

    When someone who has very little education becomes super rich like pacquiao, sooner or later he becomes a victim of swindlers,opportunists,scammers and all kinds of vultures.