Palm Beach Man Filed False Tax Returns, Underpaid IRS Nearly $800K in Taxes Owed
JOHNSTOWN, Pa. - A resident of Palm Beach, Fla., pleaded guilty in federal court to charges of filing false tax returns, United States Attorney David J. Hickton announced today.
Robert Paltrow pleaded guilty to two counts before United States District Judge Kim R. Gibson.
In connection with the guilty plea, the court was advised that Paltrow filed two individual income tax returns for the calendar years 2007 and 2008, whereby he failed to report $4,787,222 in taxable income, resulting in an underpayment of $798,969 in income tax owed to the United States.
Judge Gibson scheduled sentencing for September 30, 2014, at 11 a.m. The law provides for a total sentence of six years in prison, a fine of $500,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
Assistant United States Attorney John J. Valkovci, Jr., is prosecuting this case on behalf of the government.
The Internal Revenue Service/Criminal Investigation conducted the investigation that led to the prosecution of Paltrow.