A Forest City, Iowa businessman has made a guilty plea in federal court to failing to pay employment taxes.
Darrell Smith, 60, was charged in an indictment in January 2016 with multiple counts of willfully failing to collect, truthfully account for and pay federal employment taxes that were withheld from the wages of employees of Permeate Refining Inc., an ethanol-production business in Hopkinton, Iowa.
Smith admitted at his guilty plea hearing that he collected and willfully failed to account for and pay over to the IRS $85,267 for the second quarter of 2012.
Smith faces a statutory maximum sentence of five years in prison as well as a term of supervised release and monetary penalties.
A sentencing date has not yet been set.
Smith’s co-defendant Randy Less pleaded guilty on June 14 to failing to pay employment taxes and violating the Clean Water Act.
Acting Assistant Attorney General Caroline D. Ciraolo and U.S. Attorney Kevin W. Techau thanked special agents of IRS-Criminal Investigation, the FBI, the U.S. Postal Inspection Service and the U.S. Environmental Protection Agency, who investigated the case and Assistant U.S. Attorney Tim Vavricek of the Northern District of Iowa and Trial Attorney Matthew Hoffman of the Tax Division, who are prosecuting the case.
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Key Facts
- State: Iowa
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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