Local contractor gets busted by IRS

Discussion in 'General Industry Discussions' started by DLCS, Apr 25, 2007.

  1. DLCS

    DLCS LawnSite Platinum Member
    Posts: 4,374

    I know this contractor is not "green" related but just thought I'd share it with everyone. This is why everyone should claim all income as this can could happen if you don't. I heard a rumor that it was a employee who tipped off the IRS. Don't know for sure maybe a rumor? Amazing how fast the IRS can ruin your life. Here is the articles from our local paper.


    Polo man charged with filing false tax returns





    BY JIM BUTTS

    SVN REPORTER

    jbutts@svnmail.com

    The owner of a Sterling-based construction company was charged Friday in federal court with two counts of filing false federal tax returns, the U.S. Department of Justice announced.

    Gary L. Fulrath, 54, of Polo, allegedly accepted cash payments for construction jobs performed by his company, Fulrath Construction Inc., and did not declare the income on his federal tax returns, the department said in a news release.

    Specially, the custom home builder allegedly failed to report $61,150 in cash income in 2004 and $71,901 in cash income in 2005, the release said.

    Fulrath declined to comment Friday.

    Filing a false federal tax return is punishable by up to three years in prison and a fine up to $250,000.

    The Rockford offices of the IRS Criminal Investigation Division and the FBI are investigating.



    Polo man pleads guilty for filing false returns




    SVN STAFF REPORTS

    The owner of a Sterling-based construction company pleaded guilty Friday in federal court to one count of filing false federal tax returns, the U.S. Department of Justice announced.

    Custom home builder Gary L. Fulrath, 54, of Polo, admitted to accepting more than $132,000 in cash payments in 2004 and 2005 for construction jobs performed by his company, Fulrath Construction Inc., money he did not declare on federal tax returns, the department said in a news release.

    He will be sentenced July 29; faces up to three years in prison and a fine of up to $250,000.
     
  2. LindblomRJ

    LindblomRJ LawnSite Silver Member
    Posts: 2,570

    That was smart. I don't like income tax but its better than jail time.
     

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