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  1. Join Date
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    #271
    Quote Originally Posted by dreamur View Post
    Napa double read ako bago ko nakuha ang punch. Dark ages...hehehehe. So magkakroon tayo ng dark lord and dark army? :D

    Sent from my GT-N7100 using Tapatalk
    Courtesy of ASBUwaya

  2. Join Date
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    #272
    Quote Originally Posted by dreamur View Post
    Napa double read ako bago ko nakuha ang punch. Dark ages...hehehehe. So magkakroon tayo ng dark lord and dark army? :D

    Sent from my GT-N7100 using Tapatalk
    Yap malapit na sir sa 2016 pag nanalo ang binay as president

    Btt. Kung sabihin ni pacman na us greencard holder na siya. Valid pa din ba claim ng bir sa tax evasion? 1 thing for sure na invalid na yun pagiging congressman nya.

    Sent from my GT-I9505 using Tsikot Forums Mobile App mobile app

  3. Join Date
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    #273
    yung mga fans ni pakyaw na nagsasabi na kung may atraoso si pakyaw sa IRS dapat nahuli at nakulong na sana si idol nila kung totoo na di sya nakabayad...mag google kayo ng Holywood celebrities na may kaso na tax evasion sa IRS...inabot muna ng ilang taon ang kaso bago makulong o mamultahan ang mga celebrity tax evaders...

    dapat matoto si pakyaw sa nangyari kay tyson habang di pa huli ang lahat...


    from: http://www.nybooks.com/

    Shown proof that he had been paid $12 million for his fight against Michael Spinks in 1988, Tyson couldn’t recall either that he’d ever been paid or “what I did with the money.” He adds, “I didn’t even have my own accountant at the time; I was just using Don’s. I didn’t have anyone to tell me how to protect myself. All my friends were dependent on me. I had the biggest loser friends in the history of loser friends.”

    In 2003, after having earned between $300 and $400 million, Mike Tyson declared bankruptcy with $23 million in debt and $17 million owed in back taxes.
    Last edited by explorer; December 15th, 2013 at 04:13 AM.

  4. Join Date
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    #274
    Quote Originally Posted by explorer View Post
    yung mga fans ni pakyaw na nagsasabi na kung may atraoso si pakyaw sa IRS dapat nahuli at nakulong na sana si idol nila kung totoo na di sya nakabayad...mag google kayo ng Holywood celebrities na may kaso na tax evasion sa IRS...inabot muna ng ilang taon ang kaso bago makulong o mamultahan ang mga celebrity tax evaders...

    dapat matoto si pakyaw sa nangyari kay tyson habang di pa huli ang lahat...


    from: http://www.nybooks.com/
    Iba ang case ni Pacquiao. Toprank boxing automatically deducts the amount intended for IRS from his purse, that came from the mouth of Arum. I have no idea on the PPV share though.

    Pacquiao got screwed here. Hirap pag salat sa education then kumita ng ganyang kalaking pera, ma dedengoy ka talaga.

  5. Join Date
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    #275
    Bayad na pacman pra matapos na problema mo. Tapos iwan mo na si arum niloloko ka lang nyan


    Sent from my iPhone using Tsikot Car Forums

  6. Join Date
    Oct 2002
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    #276
    mukhang totoo ang binalita ng TMZ...mabigyan ang Rappler ng document (click the link below to see a copy of that document) na nagpapatunay na hinahabol nga ng IRS si pakyaw...malamang sisihin ng mga ass-licker ni pakyaw si Obama na pinupolitika ang ideol nila

    from: Is Pacquiao covering up his money woes?

    Is Pacquiao covering up his money woes?

    BY EDWIN ESPEJO
    POSTED ON 12/14/2013 12:13 PM | UPDATED 12/14/2013 9:00 PM

    The document, obtained by Rappler from a source who requested anonymity, indicated that Pacquiao owed the US government a total of US$18,313,668.79
    Last edited by explorer; December 15th, 2013 at 07:22 PM.

  7. Join Date
    Oct 2002
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    #277
    kung anong drama pa pinalabas noon at pinupolitika daw sya...kalabas-labasan sya pala nagsisinungaling...kasalanan ni abnoy 'to

    from: US taxman after Pacquiao

    manny-pacquiao-tax.jpg

    US taxman after Pacquiao
    Tax problems come amid fears he’s going broke
    By Christian V. Esguerra, Francis T.J. Ochoa
    Philippine Daily Inquirer
    1:15 am | Friday, December 27th, 2013

    (First of a series)

    The taxman has Pacman against the ropes amid fears that he might be going broke, given his lavish lifestyle and propensity to dole out cash to friends, political supporters, hangers-on and even random strangers.

    Sarangani Rep. Manny Pacquiao was 14th on the list of highest-paid athletes last year, with estimated earnings of $34 million, according to Forbes magazine.

    He was considered the wealthiest member of the House of Representatives, based on his statement of assets, liabilities and net worth (SALN). He reported a net worth of P1.77 billion in 2012, up from P1.13 billion in 2010.

    But Pacquiao said he had to borrow more than P1 million so he could deliver aid to victims of Supertyphoon “Yolanda” in Leyte and Samar provinces late last month.

    In the United States, the Internal Revenue Service (IRS) has issued a levy on Pacquiao’s US bank accounts in an effort to recoup more than $18 million in alleged tax liabilities from 2006 to 2010, documents obtained by the Inquirer showed.
    US notice of tax lien

    The IRS levy came after Pacquiao was issued a separate “notice of federal tax lien” in the amount of $18,313,669. The notice was issued by the Glendale office of the IRS in Los Angeles, California, on Nov. 22.

    Pacquiao did not answer phone calls and text messages when reached by Inquirer Mindanao on Thursday.

    Pacquiao’s former accountant, Michael Joseph Cabuhat, said the levy could jeopardize his planned bout in Las Vegas in April because the IRS could block ticket sales and similar activities related to the prize fight.

    “Any compensation under your name will be taken out because there is an order of levy. So if the fight is next year, it will earn. The IRS may levy the earnings right away,” said Cabuhat, chief financial officer of VisionQwest, a California-based accountancy firm hired by Pacquiao in 2010 but was eventually fired the following year.

    “They have to make an arrangement to settle this or at least take care of it through an installment agreement or negotiation or compromise. Otherwise, the April fight is in danger,” Cabuhat said.

    ‘Lifted’

    But Pacquiao’s camp, through his Philippine lawyer Tranquil Salvador, on Wednesday insisted that the “IRS liens on his properties and bank accounts” were “vacated” (lifted) late last week.

    “We have been told that the IRS liens on his properties and bank accounts were vacated on Dec. 20,” Pacquiao’s “team” told the Inquirer in an e-mail sent through Salvador.

    “It means he has satisfied the requirements of the US law,” Salvador added in a text message.

    On its official website, the IRS differentiated between a “lien” and a “levy.”

    “A lien is not a levy. A lien secures the government’s interest in your property when you don’t pay your tax debt. A levy actually takes the property to pay the tax debt. If you don’t pay or make arrangements to settle your tax debt, the IRS can levy, seize and sell any type of real or personal property that you own or have an interest in,” the IRS said.

    The IRS described a federal tax lien as “the government’s legal claim against your property when you neglect or fail to pay a tax debt.”

    “The lien protects the government’s interest in all your property, including real estate, personal property and financial assets,” it said.

    ‘Flawed’ reports

    Pacquiao’s camp said stories about his alleged tax problems in the United States were full of errors.

    “Representative Pacquiao’s US attorneys have previously commented that the recent stories regarding his problems with the IRS are seriously flawed and tainted with errors, and that he remains committed to working with the IRS to resolve any outstanding issues,” Pacquiao’s camp said in the e-mail.

    Unless the alleged tax liabilities are settled, Cabuhat said the IRS could “barricade” the April clash, meaning it could step in and claim proceeds from the fight. He claimed that the IRS “almost did it” for another Pacquiao bout before VisionQwest came in.

    Bank issued IRS levy

    In a letter dated Nov. 27, one bank informed “Emmanuel D. Pacquiao,” one of boxing’s biggest draws, that it had been “served with an IRS levy in the amount of $18,564,663.6 naming you as debtor.”

    As a result, the bank said it was putting the balance of his two accounts on hold for “21 days,” warning that it would be sent to the IRS unless the levy was lifted by next month.

    “Unless we receive a Release of Levy from the IRS before 1/10/2014, we are required to hold these funds for 21 days, after which they will be remitted to the IRS,” Pacquiao, boxing’s only eight-division titleholder, was told.

    As of Nov. 27, each of the bank accounts contained a balance of less than $100.

    17 accounts, US properties

    During the brief period that VisionQwest worked for Pacquiao, Cabuhat said the boxer was known to have 17 accounts in four banks.

    Pacquiao is said to own properties in the United States—a five-bedroom house on Plymouth Boulevard in Los Angeles, a 10-unit apartment and another house in Orange County.

    Cabuhat, whose company was dumped by Pacquiao in 2011, said the best option was for the boxer to settle with the IRS.

    “If I [were] Manny Pacquiao and I am charged $18.3 million, I [would] pay it right now or make an installment agreement rather than ignore it because the IRS could come back and seek higher tax liabilities,” he said.

    The IRS said “paying your tax debt—in full—is the best way to get rid of a federal tax lien.” It “releases your lien within 30 days after you have paid your tax debt.”

    The writing was on the wall as early as 2010, the year VisionQwest was hired by Team Pacquiao to clean up his financial mess.

    Michael Lodge, the firm’s president and CEO, said VisionQwest was tasked with “represent[ing] Manny Pacquiao and MP Promotions Inc. on a tax audit for 2006 and 2007, which then led to 2008 and 2009.”

    Cabuhat said the agreement included a review of Pacquiao’s bout and endorsement contracts.

    The company was also tapped “to organize his financial data and create an automated financial system to record everything.”

    On its website, VisionQwest Accountancy Group is described as a firm that provides “full international tax services as it relates to entertainment and sports clients [who] need representation in the United States on special tax issues.”

    Alleged irregularities

    But what was supposed to be a three-year engagement was cut short after VisionQwest uncovered alleged irregularities in Pacquiao’s finances and asked that they be fixed soon.

    Asked why Pacquiao fired VisionQwest, his camp said in the e-mail: “Representative Pacquiao has the right to engage professional advisers of his own choosing and he can terminate their services if he no longer wishes to continue such professional relationship for whatever reason.

    “It is public knowledge that Representative Pacquiao and VisionQwest parted ways on less than amicable terms and the manner by which VisionQwest handled the story publicly through media only reinforces the correctness of Representative Pacquiao’s decision to terminate their services in 2011.”

    In a June 30, 2011, letter addressed to Pacquiao, Lodge raised a number of issues, warning in particular about Michael Koncz’s role as the boxer’s adviser.

    “After a careful review of tax documents provided to us from Michael Koncz for 2006, 2007 and other years I feel that the documents that were in handwritten form, e-mails and written notes have been clearly misstated on revenue and expenses of Manny Pacquiao and MP Promotions USA Inc.,” Lodge wrote.

    ‘Recycled’ issues

    In the e-mail, Pacquiao’s camp said the issue raised against Koncz was among the “recycled issues that have been discussed by VisionQwest through the media over the past couple of years in an effort to discredit [promoter] Bob Arum and Mike Koncz.”

    “To date, Representative Pacquiao continues to trust his team of advisers,” his camp said.

    Lodge alleged that Koncz misstated the tax returns and that there was no reliability in the tax data provided to the IRS.
    “Mr. Koncz has now placed our client in a possible tax liability based on his false documentation and that now VisionQwest Accountancy Group must justify through our own gathered and documented records a new tax position to the [IRS],” he said.

    Lodge went as far as advising Pacquiao to get rid of Koncz. The Inquirer tried but failed to contact Koncz.

    “I would request that Mr. Koncz be removed from his role immediately and that no further business that affects Manny Pacquiao or MP Promotions USA Inc. be done by Mike Koncz,” he said. “This is hereby stated so that our client may be protected from tax or legal liabilities.”
    continuation at next post...

  8. Join Date
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    #278
    continuation from previous post...

    Services terminated

    Pacquiao later terminated the services of VisionQwest, which then sued its erstwhile client for $649,017 in purported loan. Cabuhat said the case was settled in 2012, with Pacquiao paying an undisclosed amount.

    In a 2011 report on The Ring Magazine’s website, Koncz was quoted as vowing that Pacquiao’s camp would “vigorously defend [itself against] these false allegations contained in the lawsuit.”

    Koncz alleged that VisionQwest “has breached a number of confidentiality laws contained within their own contract and made a number of slanderous statements against Manny Pacquiao and myself alleging that I’m misappropriating money and stealing money, which is totally bulls**t.”

    He said VisionQwest “spent more time focusing on trying to handle Manny’s endorsements and then subsequently trying to be fight promoters by putting together the fights, that they lost their focus and never worked on our taxes.”

    “They didn’t inform Manny [about] the true standing of our taxes, which subsequently has been done by our new accounting firm.”

    In the “Notice of Federal Tax Lien,” the IRS listed Pacquiao’s alleged tax liabilities over five years: $1,160,324 (2006), $2,035,992 (2007), $2,862,437 (2008), $8,022,916 (2009), and $4,231,999 (2010).

    Pacquiao earlier denied owing the IRS such amounts, insisting that the allegation was “no doubt a demolition job against me.”

    $25M in ’09, excluding PPV

    The year 2009 was a banner year for Pacquiao in terms of earnings.

    He fought twice—a second round knock out of Briton Ricky Hatton and a 12th round TKO of Puerto Rican star Miguel Cotto—and pocketed a combined $25 million, excluding pay-per-view (PPV) shares, based on his reported purses.

    $40M earnings in 2008

    The year before, his combined purses in three fights, as reported in media, were estimated at nearly $20 million. His bout with Mexican-American superstar Oscar De La Hoya alone earned him a reported purse of $11 million and a PPV share worth $20 million.

    Back home, the Bureau of Internal Revenue (BIR) is also going after Pacquiao for his alleged failure to pay taxes for his fight earnings in the United States in 2008 and 2009. He was assessed a tax liability of P2.2 billion, including penalties.
    Gag order, meeting with Kim

    A court has issued a gag order to the BIR and Pacquiao regarding the tax issue, but two independent sources told the Inquirer that the boxer had sat down with Revenue Commissioner Kim Henares to discuss his problems.

    One tax expert told the Inquirer that Pacquiao’s assessed liability with the BIR was already final, although the boxer could still seek relief through a compromise.

    The BIR could supposedly agree to a compromise based on doubtful validity, but Pacquiao would have to provide supporting documents to prove that he had been wrongly assessed.

    And the supposed lack of documents has proven to be at the root of Pacquiao’s current tax mess.

    The BIR earlier issued a warrant of “distraint” to force Pacquiao to pay up, a move the congressman has questioned in the Court of Tax Appeals.

    “There are many crooks in the government whose bank accounts and properties were not subjected to garnishment,” he complained in a previous press conference.

    “I had absorbed many blows just to earn money and give pride to the nation, but this is what happened.”

  9. Join Date
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    #279
    para maintindihan kung anong yung mga terms na ginagamit ng IRS...

    from: In The Know: Glossary of IRS terms

    In The Know: Glossary of IRS terms

    Philippine Daily Inquirer
    3:21 am | Friday, December 27th, 2013

    Federal tax lien: A legal claim against current and future property (i.e. houses, cars) and rights to property (i.e. wages, bank accounts).

    A lien is the US government’s legal claim against a taxpayer’s property in the event that the taxpayer neglects or fails to pay a tax debt.

    A tax lien arises automatically once a taxpayer fails to pay in full taxes owed within 10 days after the US Internal Revenue Service (IRS) sends the first notice of taxes owed and demand for payment.

    A tax lien attaches to assets such as property, securities and vehicles, as well as to future assets acquired during the duration of the lien. Once the IRS files a notice of federal tax lien, it may limit the taxpayer’s ability to get credit, among other effects.

    Levy: A legal seizure of property or rights to property to satisfy a tax debt. When property is seized (“levied”), it will be sold to help pay the tax debt. If wages or bank accounts are seized, the money will be applied to the tax debt.

    The seizure is made only after three requirements are met:

    The IRS has assessed the tax and sent a notice and demand for payment.

    The taxpayer has neglected or refused to pay the tax.

    The IRS has sent a final notice of intent to levy and levy notice at least 30 days before the levy.

    Notice of intent to levy: The IRS sends this notice before property is seized. If the taxpayer does not pay overdue taxes, or make other arrangements to satisfy the tax debt, or request for a hearing within 30 days of the date of the notice, the IRS may seize the property. Compiled by Kate Pedroso, Inquirer Research

  10. Join Date
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    #280
    Quote Originally Posted by explorer View Post
    [COLOR="#0000FF"]yung mga fans ni pakyaw na nagsasabi na kung may atraoso si pakyaw sa IRS dapat nahuli at nakulong na sana si idol nila kung totoo na di sya nakabayad...mag google kayo ng Holywood celebrities na may kaso na tax evasion sa IRS...inabot muna ng ilang taon ang kaso bago makulong o mamultahan ang mga celebrity tax evaders...

    But the scary thing is, people do actually get sent to jail for tax evasion -- Wesley Snipes, Al Capone comes to mind.

    Eto yung di ko maintindihan: if your accountant screwed up, or screwed you, shouldn't there be a legal case against the accountant and not you? Kaya ka nga kumuha ng accountant to handle those income tax returns di ba? Pwera na lang siguro if they can prove you coerced him/her.

    Humirit na naman si Mayweather. Maybe the IRS should look into his returns next.
    Last edited by badkuk; December 27th, 2013 at 09:48 AM.

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Pacquiao Owes The Government 2.2 billion in Taxes