Maryland Man Gets 13 Months for Tax Evasion

Posted on Dec 19, 2012

If you are a business owner, you can't fool the IRS by filing your personal taxes fair and square and evading your business taxes—as a Maryland man recently learned when he was sentenced to 13 months in prison, and fined $350,000, for tax evasion.

According to the Owings Mills-Reistertown Patch, Randy Benjamin Wells operated three contracting companies in the Maryland area from 2005 to 2009: Wells Contracting and Demolition Company, Triple R Contractors, and Gryphon Contracting. During those years, he made sure to file his personal income tax returns, but completely neglected to file any corporate returns, to the tune of nearly $200,000.

The Patch story states, “Wells concealed his income by using funds in the Wells Contracting and Demolition account to purchase personal items like airline tickets, retail items from department stores, subscriptions to Direct TV and Netflix, golf course visits and hotel stays. He also purchased tickets for personal travel using the Gryphon account.” 

Adding insult to injury, Wells also failed to forward any payroll taxes to the government, instead paying his subcontractors in cash and neglecting to file any quarterly statements—to the tune of another $225,000.

As an IRS revenue officer is quoted in the article, “Tax compliance should be equally shared among all Americans. Business owners like Mr. Wells who choose differently are being held accountable, reminding the public that there are detrimental consequences for this type of criminal behavior.”

Are you an Oklahoma business owner who is in trouble with the IRS? Contact the Oklahoma tax experts at Travis W. Watkins, PC (800-721-7054) to learn what we can do for you!

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