The Charlotte-area business owner of a metal and salvage business had pleaded guilty Wednesday to tax evasion, according to Acting U.S. Attorney Jill Westmoreland.
41-year-old Sammie Marks of Matthews had admitted that he concealed personal earnings made by this company Marks Metal & Salvage from the IRS, Rose said.
According to court records, Marks did not report to the IRS income of over $1.1 million in deposited cash receipts and checks made from the business and his customers.
Marks did not provide information about this income or his bank account to the person preparing his tax return, prosecutors said.
He also did not reported the amounts on individual tax returns he filed. Marks had $158,614 more of taxable income because of the unreported gross receipts, according to records.
The fraud occurred between tax years 2009 and 2013.
Tax evasion charges carry a maximum of prison for five years and a fine of $250,000.
Marks’s plea agreement involves him paying a restitution amount that will be determined at his hearing by a judge. The hearing has not yet been scheduled.
Marks has been released on bond following his appearance in court on Wednesday.
