Ohio Man Sentenced for Four Counts of Tax Evasion
A Lakewood, OH resident, Thomas Klocker was sentenced to six months in prison and ordered to pay nearly $1.8 million in restitution to the IRS for claiming false write-offs and not declaring income. Kloker diverted funds from his metal sales business for his personal use to purchase a waterfront residence, maintain his luxury yacht […]
The Largest Tax Debt in History
Although this took place in 2007, it remains to date the largest amount owed in back taxes. Telecommunications mogul Walter Anderson was sentenced in 2007 for failing to pay a whopping $200 million in taxes to the IRS. Although in 1996 he earned over $126 million, his federal return showed only $67,939 in income and […]
Owner of First Touch Payment Solutions Co. Has the Last Touch of His Worker’s Employment Taxes
A resident of Germantown, TN, Larry Thornton was sentenced to one year in prison and ordered to pay more than $10 million in restitution for failing to pay more than $8 million in employment taxes. Thornton owned 2 companies, First Touch Payment Solutions, a credit card processing company and Software Earnings, Inc. (SEI) which produced […]