Via Jayski --IRS says Montoya owes $2.7 million: The Internal Revenue Service is demanding $2.7 million in extra taxes and penalties from race car driver Juan Pablo Montoya, who, it asserts, had $9.5 million in taxable income in 2007 and 2008, nearly four times the $2.4 million he and his wife reported on their joint tax returns for the two years. In a previously unreported lawsuit filed in U.S. Tax Court, Montoya concedes that in those two years he had nearly $800,000 more in gross receipts, interest and partnership income than originally reported, but challenges the IRS other, even bigger dollar adjustments. Montoya, a 38-year-old Colombian citizen who now lives in state and local income tax free Miami with his wife, Connie Freydell, and three children, is hardly the first driver to run into trouble with the IRS. Coincidentally, he recently signed to drive in 2014 on the IndyCar team of Roger Penske, the billionaire CEO of Penske Automotive Group. That team already includes Brazilian Helio Castroneves, who placed second this year on the IndyCar circuit and is known beyond the track for winning Dancing With The Stars and for his 2009 jury acquittal on federal felony tax evasion charges.(full article at Forbes)(11-4-2013)
Posted on: Mon, 04 Nov 2013 13:49:47 +0000
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