A Brigantine man who owns a concrete company admitted to tax evasion earlier this month after failing to pay taxes on more than $234,000 in income.
Charles Schwartz, who owns Custom Design Concrete, said he failed to report tens of thousands of dollars each year from 2007 to 2009. The one count of tax evasion he pleaded to carries a maximum of five years in prison and fine of as much as $250,000 or twice the financial gain from the offense, whichever is more.
“The license to run a business is not a license to use your business as a personal piggy bank and avoid paying taxes,” said Special Agent Jonathan D. Larsen, acting agent in charge of the IRS Criminal Investigations Newark Field Office. “Those Americans who file accurate, honest and timely returns can be assured that the government will hold accountable those who don't.”
Schwartz admitted he failed to report more than $84,000 in income in 2008, as well as more than $85,000 in 2007 and $65,400 in 2009. The result was more than $85,000 in taxes lost to the government.
Shwartz said he cashed client checks at a check-cashing service, then failed to report a significant amount of it.
He is scheduled to be sentenced June 19.
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