Posted on 01/17/2025 2:34:45 PM PST by xxqqzz
A Gloucester County man admitted to skirting $3.4 million in taxes over a seven-year period by cashing checks at a check cashing location rather than depositing the money he collected for his business into bank accounts, officials with the U.S. Attorney’s Office said Tuesday.
Jose Camilo Perez Jr., 54, of Sewell, pleaded guilty to one count of tax evasion in Camden Federal Court and is scheduled to be sentenced on May 20.
From 2016 to 2023, Perez collected over $8 million from clients that included hospitals and other healthcare entities to digitize medical records, authorities said.
Instead of depositing the checks made out to the business into a business account or his personal account, he cashed the checks at a check-cashing business in Philadelphia and used the money for personal use and to cover payroll, officials said.
For the seven years between 2016 and 2023, Perez did not report any of the income he received from the business to the Internal Revenue Services, according to authorities.
As a result, Perez avoided paying taxes on over $3.4 million of income, officials said.
(Excerpt) Read more at nj.com ...
It was fun while it lasted.
no 1099 filed by the businesses?
CHECK CASHING PLACES HAVE RESPONSIBILITY IN THIS, ALSO.
You have to have a SSN to file a 1099.
You’d be surprised how many “workers”
don’t have a SSN or use a stolen one.
Good point.
Looks like it just took this long for the IRS to spot it.
The headline and the article contradict each other.
Did he evade 3.4 million in taxes or was it 3.4 million in income he failed to pay taxes on?
Can’t blame him for trying.
$8 million in income. $3.4 million in evaded taxes. Probably like 5 years in federal prison.
Charged with one count?
He didn’t cash $8 million dollars worth of checks all at one time in one year!
He did it over a 7 year period so why isn’t he charged with at least 7 counts of tax evasion?
He did it over a 7 year period so why isn’t he charged with at least 7 counts of tax evasion?
I’m not mad. Sorry he got caught. Our taxes go to bad things, why pay them?
Right. If he was smart about it, depositing SOME of it into his business account and paid taxes on it, he might have been able to continue getting away with it.
I imagine he got a plea agreement to plea to one count.
He would have been smarter to defer his income and invest the deferment and pay out of the income generated.
They give a second figure of 8 million, so I take that to mean 8 million in income and 3.4 million in taxes.
Back in the Stone Age, I started my career as a CPA with one of the Big Eight (back then there were 8). My advice to clients, friends, and family was, “Never get cute with the IRS. Bite the bullet and pay what you owe. And most certainly, never cheat...not even a little bit.”
If he had paid his “fair share” everything would be Atom across the nation. Right max?
Sorry, that is called a crime—now you need to do the time.
My guess is the check cashers were happy to get their cut of such a large amount.
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