22-Year Sentence for Stolen Payroll Tax Funds, Tax Evasion and Other Charges
A Florida businessman was sentenced 22 years and six months in federal prison for, among other charges, for conspiring to commit wire fraud, obstructing an agency proceeding and impeding the IRS, and failing to remit payroll taxes.
Frank L. Amodeo, 48, of Orlando, pleaded guilty and was also ordered to forfeit more than $1 million seized from various accounts, three homes, several luxury automobiles, commercial real estate, a Lear Jet and his corporations. The court imposed a money judgment of approximately $181 million, which is amount of the stolen payroll tax funds.
According to court documents, Amodeo, and his co-conspirators controlled several companies. They conspired to absolve themselves and the companies they controlled of the responsibility for existing payroll tax liabilities and to divert payroll tax funds paid by clients to the companies that Amodeo and his co-conspirators controlled.
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More Tax Help, IRS News and Tax Relief Tips:
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Tags: failing to remit payroll taxes, Free Tax Consultation, guilty of tax evasion, impeding IRS, tax cheat, Tax Client of the Month, tax evasion, tax fraud, tax relief, tax relief consultant, tax resolution services, wire fraud
July 23rd, 2009 at 1:10 pm
[...] It is extremely difficult for the IRS to investigate each small business owner to uncover tax evasion acts such as under-reporting [...]