Frank Stevens, Tax Evasion, Colorado 2023

A Colorado businessman has been brought to justice for his role in evading over $700,000 in employment taxes owed to the IRS.

Frank Stevens, co-owner of several restaurants and an oil production business in Bow Mar, Colorado, pleaded guilty to attempting to evade the payment of more than $737,128 in employment taxes.

According to court documents, Stevens withheld income taxes and Social Security and Medicare taxes from his employees’ paychecks but failed to pay them over to the IRS or file the required payroll tax returns for his businesses.

In an effort to prevent the IRS from collecting the taxes he owed, Stevens kept the balances of his personal and business bank accounts low, often leaving them with only $0.01. To do so, Stevens or an employee acting at his direction would transfer just enough funds to cover expenses and then transfer any remaining money to a bank account not subject to IRS levy.

The defendant’s actions caused a tax loss of approximately $737,128. Stevens is scheduled to be sentenced on June 13, 2023, and faces a maximum penalty of five years in prison.

Defendant Frank Stevens, who co-owned restaurants and an oil production business, was charged with attempting to evade the payment of more than $737,128 in employment taxes owed to the IRS.

Stevens’ crimes were investigated by IRS-Criminal Investigation, and he is being prosecuted by Trial Attorneys Peter J. Anthony and Julia M. Rugg of the Justice Department’s Tax Division.

Defendant’s real full name: Frank Stevens. Exact criminal charges: attempting to evade the payment of more than $737,128 in employment taxes owed to the IRS. City and state: Bow Mar, Colorado. Exact date: at least 2002 and continuing for many years. Sentence or outcome: five years in prison or more, supervised release, restitution, and monetary penalties.

Exact dollar amount: $737,128.

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