In a nutshell, the Disgruntled defendant withheld taxes from his employees and kept it. Accordingly, the defendant didn’t pay the IRS $1,000,000 (ONE MILLION DOLLARS) in Withholdings and Payroll Taxes andwas sentenced to 24 months in prison for failing to account for and pay over employment taxes withheld from his employees’ wages, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney R. Trent Shores.
When they dragged him from the Courtroom, I thought I heard him say:
“I should have hired Selig & Associates”
(said a Bailiff under the terms of confidentiality)
According to documents and information provided to the Court, the business-owner was responsible for withholding, and paying over to the Internal Revenue Service (IRS) payroll taxes on the wages paid to his employees. For the period January 2014 through June of 2016 he caused a tax loss of approximately $1 million by intentionally not paying to the IRS income and social security taxes withheld from employees’ wages and the employer portion of social security taxes due from on those wages. In addition to prison, the business-owner was ordered to pay restitution to the IRS in the amount of $904,091, and to serve three years of supervised release.
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