The income tax preparation company told Kungu he owed $107,392 in total for personal and corporate returns through 2012. At the time, Kongu had $231,433 in personal and business checking accounts. Instead of paying the tax bill, Kungu withdrew $180,500 to buy a gas station, according to the IRS.
>> Store closing sales at Rogers Jewelers
“This defendant took steps to come clean with the IRS, but when push came to shove, he chose to skirt his income tax responsibilities and purchase a gas station,” said Ryan L. Korner, Special Agent in Charge, IRS Criminal Investigation, Cincinnati Field Office. “Now he is a convicted felon and still owes back taxes plus steep penalties and interest.”
Aiding and assisting in the preparation of a false income tax return or other document carries a maximum penalty of three years in prison and a fine of up to $250,000. The willful failure to pay tax carries a maximum penalty of one year in prison and a fine of up to $100,000.