IRS lifts tax lien on Pacquiao's US properties

Sarangani representative and boxing champ Manny Pacquiao can now sell his mansion in Los Angeles after the Internal Revenue Service (IRS) lifted a tax lien on his US properties.

 

This was announced by Pacquiao's legal counsel Tranquil Salvador during a victory party Saturday night to celebrate his recent win over American boxer Brandon Rios, GMA News' "Unang Balita" reported Monday.

 

According to the IRS, “a federal tax lien constitutes a legal claim against your property when you neglect or fail to pay a tax debt...” in order to protect government’s interest and covers real estate, personal property and financial assets.

 

On December 10, celebrity news website TMZ reported Pacquiao owes the IRS $18 million after he "stiffed the (US) government out of federal income taxes from 2006 to 2010," which his lawyer Salvador denied.

 

In August, Pacquiao's wife and Sarangani vice governor Jinkee said they were selling their $2.7-million Los Angeles mansion to buy a more private residence. – Danessa Rivera/VS, GMA News