Castroneves jury asks for transcripts in tax case Apr 14, 2009
The jury's requests revolve around a U.S. tax doctrine known as constructive receipt. It says a person cannot avoid taxes by refusing to accept income that is ready to be paid. (MSNBC -- Sports)
Michael McCannSPORTS LAW Mar 11, 2009
Besides, the prosecution argues, under federal tax law's "constructive receipt doctrine," Castroneves was likely obligated to pay taxes when he obtained a right to receive immediate payment of taxable income, meaning a refusal to receive his Penske income would not immunize Castroneves from paying taxes on it. The constructive receipt doctrine is designed to preclude taxpayers from manipulating the timing of income receipt for their own benefit. (SportsIllustrated.CNN -- Racing)
Facts & faces Mar 11, 2009
A complex concept known as "constructive receipt" is at the heart of the prosecution's case against the two-time Indianapolis 500 winner. Testimony resumes today in the tax trial of Castroneves, his business-manager sister Katiucia Castroneves both originally from Sao Paulo, Brazil and his lawyer Alan Miller of Birmingham, Mich. (Albany Times Union)
Helio hasn't seen a dime of $5M at heart of trial Mar 10, 2009
A complex concept known as "constructive receipt'' is at the heart of the prosecution's case against the two-time Indianapolis 500 winner. Testimony resumes Tuesday in the tax trial of Castroneves, his business-manager sister Katiucia Castroneves - both originally from Sao Paulo, Brazil - and his lawyer Alan Miller of Birmingham, Mich. All are charged in a seven-count federal indictment with conspiracy and tax evasion from 1999 to 2004. The three defendants are facing more than six years behind... (SportsIllustrated.CNN -- Racing)
Stern: NBA, union might have to adjust contract Mar 10, 2009
A complex concept known as "constructive receipt" is at the heart of the prosecution's case against the two-time Indianapolis 500 winner. Testimony resumes today in Miami in the tax trial of Castroneves, his business-manager sister Katiucia Castroneves -- both originally from Sao Paulo, Brazil -- and his lawyer, Alan Miller of Birmingham, Mich. (Erie Times-News, PA)
$5M Castroneves never got key to tax evasion trial Mar 10, 2009
A complex concept known as "constructive receipt" is at the heart of the prosecution's case against the two-time Indianapolis 500 winner ... They contend Castroneves secretly controlled Seven Promotions disputed vigorously by the defense and should have paid U.S. taxes under the "constructive receipt" doctrine as soon as Penske was ready to start cutting checks. (MSNBC -- Sports)
