On August 8, a co-owner of multiple businesses admitted to his role in failing to pay more than $1 million in payroll taxes for his companies, U.S. Department of Justice reports.
According to U.S. Attorney Philip R. Sellinger, Omar Mostafa (57) of New Jersey, pleaded guilty before U.S. District Judge Georgette Castner to an information charging him with willful failure to collect or pay taxes.
Documents filed in this case and statements made in court revealed that Mr Mostafa co-owned three companies that operated in New Jersey and New York from 2016 until 2018 and that he was responsible for signing and causing to be filed the companies’ tax returns with the IRS. During those tax years, Mr Mostafa reportedly underreported each company’s payroll substantially, causing a total tax loss to the IRS of approximately $1.4 million.
The count of failing to collect, account for, and pay employment taxes is punishable by a maximum penalty of five years in prison and a maximum $10,000 fine. Sentencing is scheduled for December 12, 2022.
U.S. Attorney Sellinger credited special agents of IRS Criminal Investigation, under the direction of Acting Special Agent in Charge Tammy L. Tomlins, with the investigation leading to Monday’s guilty plea.
The government is represented by Assistant U.S. Attorney Fatime Meka Cano of the U.S. Attorney’s Office Economic Crimes Unit in Newark.
Source: U.S. Department of Justice
On August 8, a co-owner of multiple businesses admitted to his role in failing to pay more than $1 million in payroll taxes for his companies, U.S. Department of Justice reports.
According to U.S. Attorney Philip R. Sellinger, Omar Mostafa (57) of New Jersey, pleaded guilty before U.S. District Judge Georgette Castner to an information charging him with willful failure to collect or pay taxes.
Documents filed in this case and statements made in court revealed that Mr Mostafa co-owned three companies that operated in New Jersey and New York from 2016 until 2018 and that he was responsible for signing and causing to be filed the companies’ tax returns with the IRS. During those tax years, Mr Mostafa reportedly underreported each company’s payroll substantially, causing a total tax loss to the IRS of approximately $1.4 million.
The count of failing to collect, account for, and pay employment taxes is punishable by a maximum penalty of five years in prison and a maximum $10,000 fine. Sentencing is scheduled for December 12, 2022.
U.S. Attorney Sellinger credited special agents of IRS Criminal Investigation, under the direction of Acting Special Agent in Charge Tammy L. Tomlins, with the investigation leading to Monday’s guilty plea.
The government is represented by Assistant U.S. Attorney Fatime Meka Cano of the U.S. Attorney’s Office Economic Crimes Unit in Newark.
Source: U.S. Department of Justice