Businessman To Be Sentenced For Tax Evasion
The owner of a temporary staffing company recently pleaded guilty to a tax evasion charge and may see significant prison time.
Neng Vang, who owns SPTS in St. Paul, Minnesota, entered a guilty plea in U.S. District Court, according to the Minneapolis/St. Paul Business Journal. Vang did not report approximately $342,300 from wages paid to employees in cash.
In addition, he avoided informing the Internal Revenue Service of about nearly $60,000 in company profits, the news source reported.
When sentenced, Vang could receive a maximum of five years in prison, the news source added. District judge Richard Kyle presided over the case, which began when Vang was charged on April 20. The case was prosecuted by Assistant U.S. attorney Nancy Brasel.
The IRS recently ramped up tax evasion investigations to stymie the billions of dollars the federal government loses every year to tax crimes. In President Barack Obama's initial budget plan, he intended to allocate extra funds to the tax agency to help seek out tax cheats.