September 18, 2009
Chrysler's Press faces $947,409 lien
U.S. says exec owes taxes from 2007
IRS Uh Oh: Chrysler's Press owes government nearly $1M in back taxes and more to credit union — Autoblog
Chrysler's Jim Press owes the federal government nearly $1 million in back taxes, according to a lien filed by the U.S. Internal Revenue Service.
Press, Chrysler Group LLC's deputy CEO
, and his wife, Suwichada, have an unpaid balance of $947,409.63, according to the lien notice filed with the Oakland County Register of Deeds on Sept. 1.
The lien is against the Press family's home in Birmingham.
The filing said the unpaid balance is for the tax period ending Dec. 31, 2007.
Shawn Morgan, a Chrysler spokeswoman, declined comment, saying that the matter is personal. Press did not respond for comment through Chrysler's Page Ranking team.
He left Toyota and joined Chrysler in 2007 as a co-president 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.
LINK:Chrysler's Press faces $947,409 lien | Detroit Free Press | Freep.com