Thursday, April 18, 2024

Cary biz owner pleads guilty to tax evasion

A Cary businessman pled guilty Wednesday to tax evasion after concealing over $1 million in taxes between 2018 and 2022, according to a U.S. Attorney’s Office filing.

Arturo Barcenas Gonzalez, the owner of Barcenas Insurance Agency LLC and Barcenas Financial Services LLC, filed a false Form 1040 in 2018 that concealed $300,000 in business receipts.

After 2017, Gonzalez quit filing tax returns altogether. Meanwhile, his businesses thrived, as the IRS investigation found business receipts of over $1 million per year from 2018 to 2022.

In May 2023, the IRS found income-establishing business records that Barcenas claimed he did not possess after conducting a search warrant at Barcenas’s Cary offices.

Gonzalez is required to pay an undetermined amount of restitution to the IRS and faces a maximum of 60 months imprisonment, a $250,000 fine and three years of supervised release.

“The vast majority of American taxpayers pay their fair share in taxes, supporting our nation’s infrastructure, innovation, and military,” said U.S. Attorney Michael Easley in a statement. “Meanwhile, Barcenas failed to file any federal tax return for years while he padded his personal accounts with money from his businesses. Businessmen making millions can’t use tax scams to dodge paying their share and leave law-abiding citizens to shoulder the burden.”

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