Mark Cuban reveals his IRS bill for tax day [Video]

Former Dallas Mavericks owner Mark Cuban revealed on the social media platform X he plans to transfer $288 million to the Internal Revenue Service on Monday, the final day to file a 2023 tax return. 

It’s unclear whether Cuban’s $288 million transfer was to pay all of his 2023 taxes, or whether it is a quarterly payment. Taxes for non W-2 income earners are generally due quarterly to avoid penalties. 

With a top tax rate of 37%, it would take about $775 million in income to owe $288 million. 

“This country has done so much for me, I’m proud to pay my taxes every single year,” Cuban said. 

Cuban made the revelation as he was responding to criticism on social media about the latest round of student loans forgiven by the Biden administration. Late last week, the White House announced that it had forgiven over $7 billion worth of student loans for …