Tuesday, October 22, 2013
Crete Businessman Gets Jail Time For Not Paying Taxes
The Lincoln Journal Star is reporting that a Crete businessman has been sentenced to six months in federal prison for failing to turn over to the government withheld federal income and FICA taxes.
Here's what the Journal Star is saying: "John Stanley Clabaugh Jr., 69, of Lincoln, ran Clabaugh Agency Inc., an insurance agency, out of Crete. He had one full-time employee, a secretary and occasional part-time employees, according to an announcement from U.S. Attorney Deborah R. Gilg. He withheld money from his and his employees’ salaries for taxes but stopped paying it to the IRS in 2001, Gilg said. The total withheld from paychecks for the time covered by the indictment was $135,330."
Clabaugh was ordered Monday to pay nearly $136,000 in restitution. After he's finished serving time in prison, Clabaugh will have to serve six months of home confinement and three years of supervised release.
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Uh oh! Don't know whether I should call my lawyer or my accountant....
ReplyDeleteProbably both....