Many business owners in Missouri and across the country are dedicated to paying their fair share of taxes. Despite this dedication, there may be oversights that may seem minor but could be perceived as an attempt of tax evasion. For example, a business owner may opt to deposit a check written out to him or her into a personal bank account rather than that of the business, with no thought that doing so could be perceived as suspicious to the IRS.
Unfortunately, a man in another state has been accused of evading taxes. He has recently pleaded guilty to charges related to the accusations. Officials claim that from 2009 to 2014 he underreported his roofing company’s income by over $6 million. As part of a plea agreement, he has agreed to pay over $414,000 in restitution. He could also face an additional penalty and prison time.
Law enforcement officials claim that the man did not deposit all of the company’s income into company bank accounts. Instead, they say, he signed some checks over directly to suppliers or he deposited checks made directly to him into his personal bank account. He is also accused of paying some workers in unreported cash.
What a business owner could view as a simple matter of convenience could, unfortunately, lead to accusations of tax evasion. Because of the complexities of such charges, many in Missouri facing such claims may be unsure about all of the factors potentially affecting their case. Fortunately, there are attorneys who are experienced with such cases who can guide them through it.