Floyd Mayweather will be up against Conor McGregor in August. The American boxing star is coming out of retirement to fight McGregor. Apart from the win, there will be something else on Mayweather’s mind, and that is to pay off his tax liability from 2015.Also Read - Video: Undefeated Boxing Great Floyd Mayweather vs Youtube Star Logan Paul Trading Blows In Exhibition Match

According to a tax petition filed on July 5, Mayweather has asked the IRS to delay his payments until he picks up his purse from August’s fight. “Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” The Guardian quoted the petition as saying. Also Read - Conor McGregor Beats Lionel Messi, Cristiano Ronaldo to Become Forbes' Highest-Paid Athlete For First Time

“The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding,” it added. Also Read- Conor McGregor signs contract to fight Floyd Mayweather Also Read - UFC Star Conor McGregor Sends Special Message For Indian Fans During Covid-19 Crisis

The filing also asks the government to waive a penalty for failing to pay.

However, it is still not known how much the former five-division boxing champion owes but he settled a 6.2 million USD lien he had from 2007 after fighting Juan Manuel Marquez in 2009.

It is estimated that Mayweather earned 220 million USD from his fight against Filipino boxing great Manny Pacquiao in 2015 and it is assumed that similar sums have been discussed for the McGregor bout.

The fight against McGregor, which will take place in Las Vegas on August 26, is expected to challenge financial and PPV records, despite the one-sided expectations. Mayweather will seek his 50th career win against a two-division MMA champion who has never boxed a professional round. Both fighters in June took to social media to confirm the development.

(Inputs ANI).