Tax Liabilities Exceeded $1 Million for Horse Farm Owner

A Connecticut horse farm owner was sentenced to four months in prison and ordered to pay a $5,000 fine after pleading guilty to one count of tax evasion and one count of failure to collect and pay tax.

According to court records, Juliana Cole Weber, 64, of Ridgefield, Conn., owned and operated Stepping Stone Farm Inc., a horse farm offering a range of services.  During the tax years 2001 through 2006, Weber filed personal income tax returns with the IRS that underreported her taxable federal income by more than $1.1 million, resulting in a failure to pay more than $389,000 in personal income taxes due on that unreported income.  In addition, during the 2005 and 2006 tax years, Weber failed to collect and pay tax withholding and FICA taxes that were owed on Stepping Stone Farm’s employee payroll, for a total additional tax underpayment of $190,308.24.

With interest and penalties, Weber’s total tax liability exceeded $1 million.

In addition to her criminal prosecution, Weber has entered into a stipulated civil forfeiture agreement in which she has forfeited to the federal government $1.37 million that was seized from a safe deposit box and from the horse farm during the course of the investigation.

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