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IRS issues tax lien against BK Racing

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The IRS issued a tax lien against BK Racing this week, the third tax lien against the organization since in less than a year.

The tax lien issued Tuesday to the North Carolina Secretary of State’s office against BK Racing is for $180,794.97. The lien is for the tax period ending March 31.

The IRS tax liens filed April 25 to the North Carolina Secretary of State’s office against BK Racing are for $163,925.76 (tax period ending Sept. 30, 2016) and $322,910.62 (tax period ending Dec. 31, 2016).

The three tax liens total $667,631.35.

Devine told NBC Sports that he’s been told by the IRS there will be “no more effort to collect as long as BK Racing stays current. It’s an agreement we worked out with them.

“We’re working out our  differences on the past stuff. The IRS has been nothing but great to work with. They’ve been very accommodating and we’re very pleased with that. Our relationship with them is good.”

Devine called the NBC Sports report: “irresponsible reporting.”

A federal tax lien is the government’s legal claim against property owned by a person or business when they neglect or fail to pay a tax debt.

Each issue is with tax form 941, which is an employer’s quarterly federal tax return. The form reports income taxes, social security tax or Medicare tax withheld from employee paychecks.

The North Carolina Secretary of State’s office stated Friday that it had not received word from the IRS that the April tax liens were resolved. An official with the IRS told NBC Sports that it does not comment on specific cases. BK Racing did not return messages to NBC Sports seeking comment about the tax liens.

The latest tax lien comes in a week when multiple media reports have raised issues about the financial status of the two-car team owned by Ron Devine.

A story by Frontstretch.com detailed the deal between BK Racing and Gray Gaulding to put Gaulding in one of the team’s cars this season. Devine told the site that the team had a $2 million agreement for GGR Enterprises to pay the team for Gaulding to drive the car this season. The report stated that monthly totals of $200,000 from GGR Enterprises to BK Racing were late in March (by seven days) and April (11 days).  

Devine told the site that Gaulding owes him $560,000 in sponsorship money while owing him $1.36 million overall

Also this week, The Final Lap reported that Devine and BK Racing had defaulted on a promissory note for $2 million signed in Feb. 2013. Devine called the report “nonsense.”

A report by Kickinthetires.net in January stated that binding arbitration required BK Racing to pay $1.46 million to Race Engines Plus and that the engine company return equipment and parts to the team in a dispute that dated back to 2013.

BK Racing has Corey LaJoie in the No. 23 car and Brett Moffitt in the No. 83 car this weekend at Watkins Glen. Moffitt, the 2015 Cup Rookie of the Year, also will be in the car next weekend at Michigan.

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Report: Justin Allgaier returning to JR Motorsports in 2020

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Justin Allgaier confirmed to Catchfence.com Friday that he will remain with JR Motorsports in 2020.

It will be Allgaier’s fifth season in the Xfinity Series with JRM.

“I will be back next year. Same deal,” Allgaier told Catchfence.com “Everything is good. We’re doing the same thing next that we are doing right now.”

Allgaier, 33, is fourth is the point standings entering this weekend’s race at Road America (3 p.m. Saturday on NBCSN).

Allgaier is the only driver in the top six in points without a win this year.

 

Xfinity Series practice report from Road America

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Christopher Bell was fastest in the final Xfinity Series practice Friday at Road America.

Bell posted a top speed of 108.562 mph around the road course.

The top five was completed by Matt DiBenedetto (108.106 mph), AJ Allmendinger (108.091), Justin Haley (107.927) and Cole Custer (107.895).

Chase Briscoe recorded the most laps in the session with 19.

The session was stopped with about 50 minutes left for a hard crash by Brandon Jones exiting Turn 11. Jones will go to a backup car for Saturday’s race.

Just before Jones’ wreck, the left-rear truck arm mount broke on Jeremy Clements‘ No. 51 Chevrolet and his car stalled on the track.

The red flag was brought out for the second time when Preston Pardus’ No. 43 Chevrolet stalled on the track. His car then stalled a second time in the final minute of the session.

The session had a third red flag when Josh Williams‘ car stalled on the track.

Click here for the practice report.

First Practice

Bell was fastest, posting a top speed of 108.559 mph around the road course.

The top five was completed by defending race winner Justin Allgaier (108.530 mph), Cindric (108.346), DiBenedetto (108.139) and Allmendinger (107.967).

Chase Briscoe recorded the most laps with 14.

The session was stopped once for debris with 35 minutes left in the session.

Minor incidents in the session included Noah Gragson briefly going off course and a spin by Dexter Bean.

Click here for the practice report.

Updated entry lists for Xfinity, Truck Series this weekend

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While the NASCAR Cup Series will be off this weekend, that doesn’t mean there won’t be any racing.

On the contrary, the Xfinity Series will be racing Saturday at Road America and the Truck Series will compete Sunday at Canadian Tire Motorsport Park.

Here are the entry lists for both series:

Xfinity – CTECH Manufacturing 180 (3 p.m. ET Saturday on NBCSN)

There are 38 cars entered.

Regan Smith will be in the No. 8 J.R. Motorsports Chevrolet.

A.J. Allmendinger will drive the No. 10 Kaulig Racing Chevrolet.

Saturday’s Cup runner-up, Matt DiBenedetto, will drive the No. 18 Joe Gibbs Racing Toyota.

Ryan Vargas is entered in JD Motorsports’ No. 4 Chevrolet for his second start of the year.

Click here for the entry list.

Trucks – Chevrolet Silverado 250 (2:30 p.m. ET Sunday on FS1)

There are only 29 Trucks listed for the entry list. A full field would be 32 trucks.

Alex Tagliani is entered in Kyle Busch Motorsports’ No. 51 Toyota for his first start of the year.

Dylan Lupton is entered in Young’s Motorsports’ No. 20 Chevrolet.

Click here for the entry list.

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Friday schedule for Xfinity Series at Road America

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The NASCAR Xfinity Series hits the track today with two practices at Road America in preparation for Saturday’s race.

The wunderground.com forecast for Friday calls for partly cloudy skies with a high of 69 degrees and a 10% chance of rain during the day.

Here is today’s schedule at Road America:

(All times are Eastern)

10:30 a.m. – 7 p.m. – Xfinity garage open

1:35 – 2:25 p.m. – Xfinity practice (NBC Sports App)

3:35 – 4:55 – Final Xfinity practice (NBC Sports App)