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.
http://www.forbes.com/sites/janetno...r-driver-juan-pablo-montoya/?partner=yahootix