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Dancing with the Justice Department
March 02, 2009
Indy Racer and minor reality TV star Helio Castroneves goes on trial this week on tax evasion charges. It looks like he has an interesting defense:
The lawyers will tell jurors the racing champ never owed income tax on $5 million he earned from Penske Racing Inc. because the money went to his father in Brazil as repayment for financing his son's career.
That sounds like a stretch, but maybe it will sound fine to a jury. If my kids ever hit it rich it might suddenly seem more sensible to me.
From the show's website, it appears that tax offenders might be part of their format now, as "L'il Kim" is on this year's cast. Sort of a rough crowd for little Shawn Johnson to be hanging with.
I suppose Shawn can take care of herself.
Russ Fox has more on Helio's trial.
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Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to
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