FORT SMITH -- A Fort Smith businessman was sentenced on Jan. 27 on two counts of making and subscribing a false tax return.
Donald Tankersley, 76, was sentenced to three years of probation in U.S. District Court in Fayetteville, according to the minute sheet of his sentencing. A $100,000 fine and $188,198 restitution were also imposed by U.S. District Judge Timothy Brooks, with both to be paid within 15 days. Interest will be waived if these financial penalties are fully paid within this time.
The first two years of Tankersley's probation are to be on home confinement with electronic monitoring, the minute sheet states. This will not be included during the third year. However, Tankersley will be required to complete 240 hours of community service and restrict his travel to the Fort Smith Division during that time. Tankersley will have to comply with other conditions during his probation, as well.
Tankersley pleaded guilty to an information on the two counts Sept. 19, according to court documents. Tankersley's plea agreement states that he is the owner of White Dairy Ice Cream Co. Inc., a corporation that also includes Tankersley Food Service, which supplies restaurants, schools and government entities.
The Internal Revenue Service began an audit of Tankersley's businesses, including White Dairy, in June 2013, according to the agreement. A fraudulent scheme was discovered during this audit, and a fraud referral was made to the IRS' Criminal Investigation Division in June 2014.
During the investigation that followed, the agreement states agents were able to determine that Tankersley siphoned funds from White Dairy by having checks created from White Dairy accounts and made out to nonexistent trucking companies. He collected and deposited the checks into his personal bank accounts, or directed others to either do the same or cash the checks for his personal use. Tankersley caused the checks to be recorded as business expenses for White Dairy and did not report them as income on his personal tax returns.
Agents discovered 23 checks totaling $93,038 that were created from White Dairy accounts and made out to nonexistent trucking companies for nonexistent deliveries, according to the agreement.
In 2013, the agreement states Tankersley falsified the corporate tax returns for White Dairy by causing these checks to be listed as corporate expenses. This reduced White Dairy's corporate tax liability and caused a tax loss of about $33,443 for the 2013 White Dairy corporate tax return.
It was also during 2013 that Tankersley did not report the checks as personal income, the agreement states, despite many being deposited into his personal bank accounts. This false omission from his personal returns caused a tax loss of about $21,667.
Tankersley agreed to pay $188,198 in restitution to the IRS in accordance with his plea agreement.
SundayMonday on 02/03/2020
"fine" - Google News
February 03, 2020 at 05:28PM
https://ift.tt/2UiD037
Man gets probation, fine for tax fraud - Arkansas Online
"fine" - Google News
https://ift.tt/2NyjnPq
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment