Michael Taylor, Failing to Pay Employment Taxes, West Virginia 2017
Grimy Times has obtained exclusive information on a high-profile employment tax evasion case in West Virginia. Michael Taylor, 48, and his spouse, Jeanette Taylor, 44, have pleaded guilty to federal employment tax charges in a case that has left many in the community stunned.
According to court documents, the Taylors operated a construction business in Wayne, West Virginia, that transported steel and sold gravel and concrete throughout West Virginia and Kentucky. From 2000 through 2010, the business changed its name several times, including Taylor Contracting & Taylor Ready-Mix LLC, Taylor Contracting/Taylor Ready-Mix LLC, and Bluegrass Aggregates.
The Taylors were responsible for collecting, accounting for, and paying over to the Internal Revenue Service (IRS) federal income taxes and social security and Medicare taxes withheld from their employees' wages. However, instead of paying the taxes, they used the funds to purchase property and finance their horse farm.
The investigation revealed that the Taylors withheld over $850,000 from their employees' paychecks from July 2007 through 2010. They also failed to pay over $490,000 in employment taxes for a prior business. The total tax loss for the Taylors' conduct is $1.4 million.
The sentencing hearing has been scheduled for January 23, 2017. The Taylors each face a statutory maximum sentence of five years in prison, as well as a period of supervised release and monetary penalties.
Grimy Times has reached out to the IRS for comment on this case and is awaiting a response.
Mandatory Facts: Defendant/Respondent: Michael Taylor; Exact Criminal Charges: One count of conspiracy to defraud the United States in the ascertainment, computation, assessment, and collection of employment tax, and one count of failing to pay over employment tax; City and State: Wayne, West Virginia; Exact Date: No specific date mentioned; Sentence or Outcome: Pleaded guilty; Dollar Amounts: $1.4 million in tax loss, $850,000 in withheld taxes, $490,000 in unpaid taxes.
Key Facts
- State: West Virginia
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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