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View Full Version : Unreported cash work gets one lco in trouble


Steve
05-09-2007, 04:08 PM
Jobs that pay in cash can sure be tempting to not pay taxes on. Well this lco didn't pay tax on up to $300,000 of income! WOW and he got caught!

Have you ever known other cash businesses who didn't pay tax on the cash they made?

Business owner pleads guilty to tax evasion (http://newstranscript.gmnews.com/news/2007/0502/Front_Page/027.html) - The owner of a landscaping and contracting business in Monmouth County has pleaded guilty to tax evasion, admitting that he evaded more than $300,000 in federal income taxes, U.S. Attorney Christopher J. Christie announced.

For calendar year 1999, Aldarelli reported taxable income in the amount of $66,232 with a resulting tax in the amount of $12,121. During his guilty plea, Aldarelli admitted that he intentionally failed to include an additional amount of nearly $300,000 in personal income he received during 1999 on that tax return in an effort to evade paying income taxes, according to the press release. He also admitted that for calendar years 1998, 1999 and 2000, he owed an additional total tax of approximately $317,000 on the basis of income he failed to report.

Aldarelli admitted that this additional income stemmed from the receipt of cash for work his companies performed which he did not report, as well as from cash he withdrew from business accounts but used for personal expenses. He also admitted to writing checks to himself from the business accounts which he used for personal and non-business-related expenses, according to Christie.

tiedeman
05-10-2007, 12:22 AM
That is why you always report everything.