Steel Trader Pleads to Tax Evasion Counts
A Birmingham, Mich., steel trader pleaded guilty to two counts of tax evasion.
During an IRS civil audit of the tax returns of Paul M. Wolf, 49, the revenue agent detected fraud and referred the case to the Criminal Investigation Division of IRS. IRS’s criminal investigation showed that Wolf knowingly and willfully filed false 2002 and 2003 tax returns with the IRS, which included Wolf’s overstating his mortgage interest deduction, reporting more than $400,000 on these tax returns when his actual mortgage interest payments were approximately $87,000. Wolf also overstated his charitable contributions on his 2003 by more than $42,000.
Wolf faces up to five years in prison and a $100,000 fine per count.
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Tags: false federal tax return
