Montoya & The IRS

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Posted by islandman on November 04, 2013 at 19:24:50:

Report: IRS seeks millions from Montoya

Tony DiZinno

Nov 4, 2013, 5:00 PM EST

Juan Pablo Montoya, who will end his seven-year NASCAR Sprint Cup Series career in two more races and is set to shift back to Team Penske’s IndyCar program, reportedly owes millions to the Internal Revenue Service for evasion of some taxable income.

Per a report in Forbes, Montoya owes at least $2.7 million to the IRS, as the IRS claims he had $9.5 million in taxable income between 2007 and 2008.

Offshore accounts, corporations and the “rights to Montoya’s image” appear to be involved in the case, per the report. Montoya moved to the U.S. when he made the switch from Formula One to NASCAR in 2007, and the IRS appears to believe Montoya’s “image front” was a sham.

Montoya’s 2014 Penske IndyCar teammate, Helio Castroneves, was acquitted on federal felony tax evasion charges in 2009.

It’s an interesting story to monitor as the offseason beckons.

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