Breaking – Jim Press Owes $1,000,000 To The IRS
Ha! Jim Press, CEO of Chrysler Fiat, owes almost One million dollars to the IRS in back taxes. To be exact – “Chrysler’s Press faces $947,409 lien, U.S. says exec owes taxes from 2007″ according to the Detroit Free Press. We can only imagine this sound going off in Press’s head when he found out.
The lien is against the Press’s home in Birmingham. The filing said the unpaid balance is for the tax period ending Dec. 31, 2007. He left Toyota and joined Chrysler in 2007 as a copresident shortly after Cerberus Capital Management took majority ownership of the Auburn Hills automaker. Chrysler never disclosed the value of Press’ compensation package but Business Week, in 2007, reported that it was worth at least $50 million. – freep.com
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