Running a business in Missouri and other areas across the country is often a complex task. In many cases, business owners must multiple different decisions that could ultimately have a significant impact on the businesses. Unfortunately, some decisions could ultimately have legal consequences. For example, mistakes made when filing federal income taxes could ultimately result in accusations of tax evasion.
In fact, a man in another state recently pleaded guilty to such charges. The 47-year-old man reportedly owned several businesses in which he was contracted to provide payroll services to small businesses. As part of his responsibilities to the companies, he collected federal employment taxes.
Despite collecting the taxes, federal prosecutors claim that he never paid them to the IRS but, instead, kept the money for his own use. Additionally, he is accused of attempting to hide this by filing false returns. Prosecutors also claim that he filed inaccurate wage reports so that the information could not be cross-checked.
The man pleaded guilty to a tax evasion charge and was recently sentenced to just under two years in prison in addition to paying over $700,000 to the IRS in restitution. Unfortunately, accusations such as these often carry heavy consequences. As such, many in Missouri in a similar situation must carefully weigh their options. Often, many opt to plead guilty if they believe there may be sufficient evidence to convict. Because those without legal training or experience lack confidence in their ability to make informed decisions, many seek guidance from an experienced criminal defense attorney.