Richard Underwood, Filing False Tax Returns, Florida 2019

Ocala, FL – Richard Underwood, a Marion County resident, has landed himself in hot water. The 42-year-old businessman has pleaded guilty to three counts of filing false tax returns, a move that could see him locked up for up to three years in federal prison per count.

According to court documents, Underwood’s tax returns from 2017 to 2019 overstated certain business expenses incurred by his company, KDG Consulting, Inc. This deliberate falsification significantly reduced his business income, which ranged from about $530,000 to $780,000, by hundreds of thousands of dollars.

Underwood’s fraudulent conduct caused his taxable income to drop to $0 in 2017 and 2018, and $7,110 in 2019. The Internal Revenue Service – Criminal Investigation launched an investigation into Underwood’s activities and uncovered the extent of his deceit.

As part of his plea agreement, Underwood has agreed to pay $680,141 (plus interest) to the Internal Revenue Service – an amount reflecting the taxes he failed to pay during those years. This move underscores the seriousness of his crimes and the consequences he faces.

The case is being prosecuted by Assistant United States Attorney Belkis H. Callaos, who is determined to see justice served. Underwood’s sentencing date has yet to be set, but one thing is clear – his actions have consequences.

Underwood’s decision to plead guilty serves as a stark reminder of the importance of honest tax reporting. As we continue to navigate the complex landscape of tax laws, it is crucial that individuals like Underwood are held accountable for their actions.

The IRS-CI, led by experts in the field, continues to crack down on tax evasion and other financial crimes. Their tireless efforts aim to protect the integrity of the tax system and ensure that those who break the law face the consequences.

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