LONG BEACH, California – Every April 14th, the Race Team Owner Tax Support Group meets to prepare and support each other for the upcoming tax season and discuss what tax evasion schemes they are running for the year.  “A race team is a great way to hide money from the Feds,” said one anonymous IMSA team owner, “The IRS really has no idea why we’re spending over $100k on fuel, so we can jack it up to $250k and nobody really looks twice.  That’s one of the simplest, most basic schemes.  Both fuel and tire costs.  But still, April 15th is scary.  Like a lottery just waiting to see who in the paddock gets audited, so we gotta stick together.  No man left behind.”

Where it gets really interesting is asking a manufacturer for a cool mil for a program that really only costs $700k, but then still charging a customer for hidden crash damage at the end of the season when they ‘damage’ a car that is technically owned by a third party, silent owner.”

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