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Tuesday, April 16, 2024

Charlotte biz owner pleads guilty to tax evasion

A Stanly County business owner pled guilty to filing a false tax return, according to a the Middle District of North Carolina U.S. Attorney’s Office. 

An investigation revealed that Brantley Forrest, the owner of Fence Pro of the Carolinas in Charlotte, concealed $2,068,864 in gross revenues related to his business from the Internal Revenue Service and his tax return preparer from 2017 to 2021. 

After concealing over $2 million in gross revenues, Forrest’s reported income qualified him for low-income tax credits and COVID relief payments. 

“Conspiring to defraud the government by underreporting taxable income is unlawful,” says Donald Eakins of IRS Criminal Investigation. “Mr. Forrest’s plea today serves as an important reminder that IRS CI is committed to bringing to justice those who dodge their federal income tax responsibilities.”

Forrest’s actions resulted in a tax loss of over $500,000, and he faces a maximum prison sentence of three years, supervised release of up to one year and monetary penalties.

His sentencing is scheduled for April 30, 2024, at 11:30 a.m. in Greensboro before United States District Court William L. Osteen, Jr.  

 

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