Jim Press, Chrysler Group's outgoing deputy CEO owes the federal government approximately $1million in back taxes. Confirmed reports have stated that Jim Press Internal Revenue Service officials have placed a lien for $947,409 on his home.

The lien notice, which is filed with the Oakland County Register of Deeds, is against the Press family's home in Birmingham, Mich.

The notice stated the unpaid balance is for the tax period ending December 31, 2007.

Speaking on the topic, Paul Dorf, MD of Compensation Resources, said, "I don't know that he'll be on the bread line, but I certainly would think there are other people who have seven-digit or above compensation having financial problems."

It is important to note here that Mr. Press possesses over $18 million in the form of real estate and enjoys an annual salary of $2.4 million.

Before joining Chrysler in 2007, Mr. Press was with Toyota.

Shawn Morgan, Chrysler spokeswoman, declined to comment on the matter, saying the matter was totally personal.