Mike Tyson Is Relieved Two Million in Tax Debt

Tyson
Mike Tyson has been relieved of $2 million in tax debt by the IRS. According to the former heavyweight champion, he wrote a hefty check recently to payoff part of his tax debt, which prompted the IRS to give him a tax break. He filed for bankruptcy in 2005 and has since been trying to pay back the IRS. Tyson reportedly has said that he likes the IRS now.

Tyson is not the only one who has struggled with owing tax debt to the IRS. Evander Holyfield also struggled with tax debt after his success as a famous boxer. Tyson also later referred to the fact that his debts were not completely paid off, but only excused of about $2 million and that he is working toward paying off the rest of his debt.

Tyson also talked of his documentary, which features himself as well as Evander Holyfield. He was at the Tribeca Film Festival when he made these disclosures. Holyfield, who was also at the festival, reported to The New York Post that after he started making large amounts of money -over $20 million a fight – the taxes and fees associated started adding up. Tyson has recently paid off a hefty amount of money, being relieved nearly $2 million in tax debt along with a check he wrote.  He also said that some people tend to take advantage of a person’s celebrity status and the fact that they are making large amounts of money to persuade them to invest in shady dealings in which it is easy to lose money.  Tyson said that much like he was relieved by the IRS and had two million dollars of his debt forgiven, he must also forgive those who attempted to do and those who did him harm.

One of Tyson’s children accompanied him to the Tribeca Film Festival, causing Tyson to report that he is a proud dad and he is glad he can give his children the things he never had, including an Ivy League education. He also said that he did not bother saving money, and that he spent lavishly and does not regret it one bit.  He said that he was a better parent than his mother and father and that was something of which to be proud. He also said that he had a ninth-grade education and that he is not very smart, but if he can send his children to Ivy League schools, he must have done something right. Tyson added that the only thing he tries to convey to others is an attitude of gratitude. He said he has an amazing life and he is very grateful for it as well as for the IRS relieving two million dollars of his debt, saying that if someone would have asked him about his life years ago, he would not have been able to say the same thing.

By Anah Ayala

Sources:
Daily Mail
Huffington Post
Accounting Web

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