Queens Business Owner Pleads Guilty to Tax Fraud

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uncledad
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Queens Business Owner Pleads Guilty to Tax Fraud

Unread post by uncledad »

New York man pleaded guilty today to tax evasion and employment tax fraud.

https://www.justice.gov/opa/pr/queens-b ... -tax-fraud

From 2014 to 2017, Manzione withheld federal employment taxes from his employees’ wages, but did not timely file his companies’ employment tax returns, nor did he pay the required taxes to the IRS. For the third quarter of 2016 alone, Manzione failed to pay more than $85,000 in payroll taxes that he withheld from wages of employees of Advanced Transit Mix Corp.

In addition to his payroll tax fraud, Manzione evaded his individual income taxes. For tax years 2015 through 2017, Manzione did not file federal income tax returns, even though he earned almost $2,000,000 in income during that period. Manzione also concealed income from the IRS by transferring funds from his concrete companies to a bank account in the name of a nominee corporation called RA Equities LLC.

He used some of the funds deposited into the nominee account for personal expenses, and did not report that income to the IRS. In total, Manzione caused a tax loss to the IRS of more than $1.5 million.

Manzione is scheduled to be sentenced at a later date and faces a maximum penalty of five years in prison for each count of tax evasion and employment tax fraud.

The defendant also faces a period of supervised release, restitution and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

+++ The Tax man commeth.
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Re: Queens Business Owner Pleads Guilty to Tax Fraud

Unread post by Vercingetorix »

uncledad wrote: September 24th, 2021, 10:12 am New York man pleaded guilty today to tax evasion and employment tax fraud.

https://www.justice.gov/opa/pr/queens-b ... -tax-fraud

From 2014 to 2017, Manzione withheld federal employment taxes from his employees’ wages, but did not timely file his companies’ employment tax returns, nor did he pay the required taxes to the IRS. For the third quarter of 2016 alone, Manzione failed to pay more than $85,000 in payroll taxes that he withheld from wages of employees of Advanced Transit Mix Corp.

In addition to his payroll tax fraud, Manzione evaded his individual income taxes. For tax years 2015 through 2017, Manzione did not file federal income tax returns, even though he earned almost $2,000,000 in income during that period. Manzione also concealed income from the IRS by transferring funds from his concrete companies to a bank account in the name of a nominee corporation called RA Equities LLC.

He used some of the funds deposited into the nominee account for personal expenses, and did not report that income to the IRS. In total, Manzione caused a tax loss to the IRS of more than $1.5 million.

Manzione is scheduled to be sentenced at a later date and faces a maximum penalty of five years in prison for each count of tax evasion and employment tax fraud.

The defendant also faces a period of supervised release, restitution and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

+++ The Tax man commeth.
He is small potatoes. Tax collection is a tyrants favorite passtime.
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