A resident of Saratoga, California, was recently convicted of filing false tax returns and making false statements to an Internal Revenue Service (IRS) agent during an audit. The taxpayer, who owns part of a home-based international trading business, failed to report profits related to sales to China during 2006 and 2007, and he made false statements concerning ownership of foreign bank accounts.
The California resident may serve up to eleven years in prison for the false tax returns and false statements to an auditor. He will also be subject to supervised release, restitution, and penalties. For more information, click here.