Jerry Christopher Wade, Tax Evasion, Arkansas 2023

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Table of Contents

Hot Springs Man Pleads Guilty to $507k Tax Evasion

HOT SPRINGS – In a shocking turn of events, Jerry Christopher Wade, a 43-year-old Hot Springs man and owner of Four Seasons Landscaping, pleaded guilty to tax evasion today. According to court documents, Wade failed to file and pay federal income taxes for a staggering nine years, resulting in a whopping $507,554 in unpaid taxes.

Wade, who owns 100% of Four Seasons Landscaping, admitted to federal agents that he knew he was required to file his tax returns but chose not to. He also admitted to not keeping business records, including records documenting income or expenses, and to not issuing IRS Forms W-2 or 1099 to his workers or to himself.

During the years under investigation, Wade received checks from customers totaling $2,537,771.86, but instead of depositing them into his bank accounts, he cashed them and received $878,983.48 in cash. As part of his plea, Wade admitted to intentionally evading his income tax responsibilities by conducting business transactions in cash, paying employees without reporting said payments to the IRS, and cashing customer checks at his financial institution.

Wade’s actions resulted in a significant financial burden on the U.S. Treasury and the state of Arkansas. As part of his plea, he agreed to pay restitution, including penalties and interest, to both the U.S. Treasury and the Arkansas Department of Finance and Administration.

Wade is scheduled to be sentenced at a later date and faces a maximum penalty of five years in prison. He also faces a period of supervised release, monetary penalties, and restitution. The U.S. District Judge will determine his sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

U.S. Attorney David Clay Fowlkes of the Western District of Arkansas made the announcement, while IRS-Criminal Investigation is investigating the case. Assistant U.S. Attorney Steven Mohlhenrich is prosecuting the case for the United States.