NJ company president pleads guilty to tax evasion

March 4, 2016 -  By

The president of Caliper Farms Nursery, in Belle Mead, N.J., pleaded guilty to falsifying his income tax return for 2011, NJ.com reported.

Angelo Dimeglio tried to hide more than $500,000 in income from the Internal Revenue Service (IRS) in 2011. He’s also been charged for falsifying tax returns for other years.

His sentencing is scheduled for June 11. The maximum prison sentence for the count to which he pleaded guilty is five years, as well as a fine. As part of the plea deal, he also agreed to let the IRS investigate his files for possible civil penalties.

According to the report, court documents showed evidence that Dimeglio regularly cashed or deposited customer checks into personal bank accounts, wrote checks from the business payable to himself or family members and gave false information to his tax preparer.

In 2011, Dimeglio reported taxable income of $25,896. He failed to report additional income of $520,968 from Caliper Farms, meaning he owed an additional $158,619 in taxes on that income.

During the other years for which Dimeglio was charged, he skirted paying $429,898 in taxes after he failed to report $1.6 million in additional income.

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