• The IRS Spotlight on Foreign Athletes and Entertainers
  • March 11, 2009 | Authors: Lucy S. Lee; Michael G. Pfeifer
  • Law Firm: Caplin & Drysdale, Chartered - Washington Office
  • The IRS now has a new interest in sports and entertainment and not just as a spectator. At the start of October, Helio Castroneves, a two-time Indianapolis 500 winner and "Dancing With the Stars" champion, was indicted on six counts of tax evasion for allegedly failing to report to the IRS about $5.5 million of endorsement income between 1999 and 2004. Each count carries a maximum prison sentence of five years.