A husband and wife duo in West Virginia have been indicted by a federal grand jury with charges of federal employment tax violations. If convicted, they face a statutory maximum sentence of five years in prison and a maximum fine of $250,000 for each count. They also face a term of supervised release and an order of restitution.
You can read the entire release from the U.S. Department of Justice News here.
To summarize, "Michael Taylor and Jeanette Taylor, a married couple who reside in Wayne, West Virginia, have been charged with one count of conspiracy to defraud the United States by impeding the Internal Revenue Service (IRS) in the collection of employment taxes withheld from the wages of the employees of their businesses, Taylor Contracting/Taylor Ready-Mix LLC and Bluegrass Aggregates LLC, which were in the business of transporting steel and the sale of gravel and concrete. The couple is also charged with one count of willfully failing to truthfully account for and pay over employment tax withheld for their employees at Taylor Contracting/Taylor Ready-Mix LLC.
Both of the Taylors had the responsibility to collect, truthfully account for and pay over to the IRS federal income, social security and Medicare taxes withheld from the wages of their employees. From the quarter ending Sept. 30, 2007, through the quarter ending Dec. 31, 2009, the Taylors withheld approximately $1,002,392 in payroll taxes from employees’ paychecks at Taylor Contracting/Taylor Ready-Mix LLC and during the 2010 calendar year, they withheld approximately $161,218 in payroll taxes from employees’ paychecks at Bluegrass Aggregates LLC. However, the Taylors failed to fully pay over these taxes to the IRS and instead used the money to make expenditures for their personal benefit, such as making payments towards their personal credit cards and a horse farm"
With tax attorneys in Chicago and Cleveland, we can represent you in negotiations to resolve a tax matter such as unpaid payroll taxes before indictment occurs. If you have already been indicted, an experienced tax lawyer pursues favorable resolution in negotiations and, when needed, with vigorous representation in district court.