Ypsilanti Man Faces Punishment After Filing False Tax Return with IRS

Michigan white collar crimes attorneys know that even in situations where no violence is involved or harm done to others, crimes involving financial matters can result in serious punishment. Recently, 52-year-old Paul Joseph Waltner of Ypsilanti pleaded guilty to once count of filing a false tax return with the IRS.

On August 14, U.S. Attorney Barbara McQuade and IRS Special Agent in Charge-Criminal Investigation Jarod J. Koopman announced in a press release that Waltner had pleaded guilty before U.S. District Judge Stephen J. Murphy, III.

According to the release, Waltner failed to report his full wages and a bonus he earned for the year 2008 while working in the Kingdom of Bahrain at Unicom Investment Bank. He was employed at the bank from 2007 through March of 2011. While Waltner actually earned more than $246,000 and received a bonus of nearly $216,000 from UIB in 2008, the Form 1040 he filed with the IRS reported combined wages and bonuses of only $150,000. Waltner used the Foreign Earned Income Form 2555. By reporting approximately $310,000 less than he had actually received, the amount Waltner actually owed in taxes was understated by $101,998.

Waltner’s sentencing hearing is scheduled for December. Those who file a false tax return with the IRS may face a fine of $250,000, up the three years in prison, or both. As part of his plea agreement, Waltner agreed to pay restitution to the IRS for the years 2008 and 2010 in the amount of $197,806 and will also file legitimate returns for the years he was employed at the Bahrain banking institution.

While collar crimes are typically those involving money, and include tax fraud, embezzlement, money laundering, and more. If you have been accused of any similar offense or are under investigation, consult with a Michigan criminal defense lawyer immediately to ensure your legal rights are protected, and so that work can begin to protect your freedom and future.

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