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Table of Contents

A Bentonville Businessman’s Descent into Tax Evasion

A Bentonville, Arkansas, resident, James Brassart, has pleaded guilty to income tax evasion, a crime that has left the IRS with a hefty bill. According to court documents, Brassart filed a 2006 individual income tax return reporting an adjusted gross income of $1,502,749 and total tax due of $486,438.

However, Brassart did not pay all of the tax due and was assessed penalties and interest. In an effort to continue receiving income without paying taxes, Brassart used three nominee corporations, Eagle Creek Construction and Development Inc., Mono Pro LLC, and Sierra Madre Contracting LLC, to conduct his business and purchase assets.

Between approximately 2010 and 2016, Brassart filed four false bankruptcy petitions, listing the IRS as a creditor. During the course of his bankruptcies, Brassart made false statements and filed fraudulent documents, concealing his ownership interests in the nominee corporations. As a result of Brassart’s actions, he caused a tax loss of approximately $1,360,682 to the IRS.

U.S. District Court Judge Timothy L. Brooks has set sentencing for a later date, at which time Brassart faces a maximum sentence of five years imprisonment on the charge. He also faces a period of supervised release, restitution, and monetary penalties.

Principal Deputy Assistant Attorney General Richard E. Zuckerman thanked special agents of IRS Criminal Investigation, who conducted the investigation, and Tax Division Trial Attorneys Robert Kemins and Terri-Lei O’Malley, who are prosecuting the case. Zuckerman also thanked the U.S. Attorney’s Office for the Western District of Arkansas (Fayetteville Division) for their substantial assistance.

The investigation and prosecution of tax evasion cases like Brassart’s serve as a reminder of the importance of paying one’s taxes and the consequences of failing to do so. The Tax Division’s enforcement efforts are focused on ensuring that individuals and businesses comply with tax laws and regulations.

Additional information about the Tax Division’s enforcement efforts can be found on their website.