Painting Company Owner Pleads Guilty To Tax Evasion
BRIDGEPORT — Vanessa Roberts Avery, United States Attorney for the District of Connecticut, and Joleen D. Simpson, Special Agent in Charge of IRS Criminal Investigation in New England, announced February 23 that Thomas R. Saint, 67, of Newtown, waived his right to be indicted and pleaded guilty the previous day in Bridgeport federal court to one count of tax evasion.
According to court documents and statements made in court, Saint is the sole owner of Tom Saint Painting and Remodeling LLC, a Schedule C business engaged in painting and home renovation services.
From 2013 through 2019, Saint attempted to evade the assessment of federal taxes by cashing business checks instead of depositing them into his business’s bank account, depositing cash and business checks into his personal bank account, and failing to inform his tax preparer of this conduct, which resulted in the filing of false returns with the IRS that substantially understated his gross receipts and income.
For the 2013 through 2019 tax years, Saint failed to report a total of $2,163,645 in gross receipts, resulting in a tax loss to the government of $791,500.
Saint has agreed to cooperate with the IRS to pay all outstanding taxes, interest and penalties.
Tax evasion carries a maximum term of imprisonment of five years. Saint is scheduled to be sentenced by U.S. District Judge Michael P. Shea on May 22 in Hartford.
Saint is released on a $100,000 bond pending sentencing.
This investigation has been conducted by the Internal Revenue Service, Criminal Investigation Division, and is being prosecuted by Assistant U.S. Attorney Susan Wines.
The bank should have not allowed him to cash business checks nor deposit them into his personal account It would be interesting to know what bank was involved.