IRS: Jim Press owes nearly $1 million in back taxes
Posted on September 18th, 2009 • by Bill Cawthon
According to the Detroit Free Press, Chrysler Deputy CEO Jim Press owes the U.S. government nearly $1 million in back taxes and the Internal Revenue Service has put a lien on family’s home in Birmingham, Michigan.
A lien notice filed with the Oakland County Register of Deeds says Press and his wife, Suwichada, have an unpaid balance of $947,409.63 from the tax period that ended December 31, 2007.
Press left Toyota in 2007 to become part of the team Cerberus Capital Management hoped would be able to turn Chrysler around. Since Chrysler was a privately-held company, his compensation package was never revealed but was rumored to be in the range of $50 million.
Neither Press or Chrysler spokeswoman Shawn Morgan had any comment on the matter.
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