Even Stolen Funds Need to be Reported as Income

James Miller, of Manhattan Beach, CA, was convicted Jun 12th of wire fraud and filing false tax returns.

Miller was the president of an internet sales company, and from 2009 to 2012 embezzled more than $300,000 from the company to pay for personal expenses but did not report it on his personal tax returns, causing a loss to the IRS of approx. $58,000.  He faces a sentence of 20 years for wire fraud and 3 years in prison for each count of filing a false tax return.