Schofield Concrete Forms, Tax Evasion, Massachusetts 2020

BOSTON, MA - In a shocking turn of events, Stephen Schofield, a 70-year-old Melrose resident, pleaded guilty to a decade-long tax fraud scheme, resulting in a staggering loss of approximately $1,051,000 in unpaid taxes.

Schofield, the operator and controller of two businesses - Schofield Concrete Forms in Stoneham and Schofields of Melrose, Inc. located in Melrose - withheld federal and state employment taxes from his employees' wages and issued W-2 forms to the employees showing that the taxes had been withheld.

However, Schofield failed to pay over those taxes to the IRS as required by federal law, leaving him facing a serious charge of failure to pay over taxes.

According to the U.S. Attorney's Office, Schofield's actions resulted in a significant financial loss to the government, making him liable for up to five years in prison, three years of supervised release, and a fine of $250,000 or twice the gross gain or loss, whichever is greater.

The sentencing hearing is scheduled for January 23, 2024, before U.S. District Judge Denise J. Casper.

Acting United States Attorney Joshua S. Levy and Harry Chavis, Jr., Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office, made the announcement today.

Assistant U.S. Attorney Victor A. Wild of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.

The case highlights the importance of tax compliance and the serious consequences of failing to pay over taxes as required by law.

Source: https://www.justice.gov/usao-ma/pr/massachusetts-businessman-pleads-guilty-million-dollar-payroll-tax-fraud-scheme