Questions? Feedback? powered by Olark live chat software

Soccer Business Owner in Trouble for Alleged Tax Fraud, Failure to File, and Other Charges

According to a press release by the Department of Justice, a New York Certified Public Accountant pled guilty to tax evasion and bank fraud earlier this month.
New York CPA Pleads Guilty to Bank Fraud and Tax Evasion, Faces 30 Years in Prison
March 13, 2018
Understanding Initial Coin Offerings, Tokens, and Their Tax Treatment
Understanding Initial Coin Offerings, Tokens, and Their Tax Treatment
March 16, 2018

Soccer Business Owner in Trouble for Alleged Tax Fraud, Failure to File, and Other Charges

Soccer Business Owner in Trouble for Alleged Tax Fraud, Failure to File, and Other Charges

A Los Angeles businessman who owned and operated several soccer supply stores has found himself in hot water with the feds and state taxing authorities. As a result of a joint investigation between the Department of Justice, California’s Employment Development Department, and the California Franchise Tax Board, Enyinnaya Ojogho of Los Angeles County, is accused of having filed fraudulent business tax returns, illegally paid employees under the table, and failing to report millions of dollars of revenue on his personal tax returns.

In a felony complaint filed late last year, California state prosecutors allege that Ojogho underreported his company’s revenue on his filed California and federal tax returns. Prosecutors estimated that Ojogho underreported gross revenue by over $8,000,000, causing a state income tax loss of more than $128,000. The $8,000,000 of additional revenue Ojogho failed to report on his business tax returns was likewise not included on his federal and state personal income tax returns.

Although Ojogho’s alleged illegal tax activity didn’t begin until 2010, prosecutors have accused him of illegally compensating his employees “under-the-table” with cash payments beginning in 2006. During those years, Ojogho failed to pay payroll taxes in excess of $200,000.

If convicted, Ojogho faces the possibility of several years behind bars and will likely be required to pay hefty fines and penalties, in addition to remediation to the State of California and the IRS.

Knowing When to Seek Help from a Tax Attorney

Although running a business may be hard enough task alone, ensuring that taxes returns are accurately prepared and paid timely is critical. If a business or an individual is unable to pay their taxes, special arrangements with tax authorities can be made that will not result in criminal tax evasion charges.

Making tax arrangements for employees can also be overwhelming to some business owners with little experience in legal or employment tax compliance. Involving an experienced tax attorney in the process will help ensure that legal requirements are met without creating a legal exposure.

Contact an Experienced Tax Attorney Today

The tax and accounting professionals at the Tax Law Offices of David W. Klasing have experience in assisting taxpayers in a myriad of tax situations, including those who are facing an audit, California or Federal criminal tax investigation, or criminal tax prosecution. Whether you are already in the middle of a tax controversy or are in need of advice to avoid negative consequences in the event of an audit, our team of zealous advocates are ready to work with you to develop a sound tax strategy. Do not let the threat of criminal penalties keep you up at night. Contact the Tax Law Offices of David W. Klasing today for a reduced-rate consultation.

Also, we’ve expanded our offices! In addition to our offices in Irvine and Los Angeles, the Tax Law Offices of David W. Klasing now have offices in San Bernardino, Santa Barbara, Panorama City, and Oxnard! You can find information on all of our offices here.

Here is a link to our YouTube channel: click here!

Here is a link to our practice overview video on warning signs that an audit has gone criminal.

What is an effective tax defense in an IRS eggshell tax audit?

So, you cheated on your taxes and you are under a tax audit…

Why should I hire a tax attorney to represent me in a tax audit?

Foreign income and information non-compliance

Self Help – Q and A libraries: