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September 6, 2012

Department of Justice

United States Attorney William C. Killian Eastern District of Tennessee


Jefferson County Marina Owner Sentenced For Filing False Quarterly Tax Returns

KNOXVILLE, Tenn. - Stanley H. Veltkamp, 69, of White Pine, Tenn, was sentenced on September 6, 2012, by the Honorable Thomas A. Varlan, U.S. District Judge, to serve four months in prison followed by one year of supervised release. Veltkamp has already paid restitution in excess of $80,000.

During tax years 2004 through 2008, Veltkamp, co-owner of Swann’s Marina in Jefferson County, Tenn, was in the business of renting boat slips, boats, and cabins, as well as operating a marina store and campground. He employed workers to help operate this business. Veltkamp admitted that these workers were paid a portion of their wages by check and a portion of their wages in cash. The purpose of paying workers in cash was to avoid the payment by Swann’s Marina of their Social Security and Medicare taxes due to the United States.

Employers file Form 941, Employer’s Quarterly Federal Tax Return with the Internal Revenue Service (IRS) to report wages paid during the quarter to their employees. With this return they submit a payment consisting of the amount withheld from employees’ paychecks, along with the employer’s matching contribution. Veltkamp admitted that in July 2007 he filed such a return that substantially understated the amount of Social Security and Medicare taxes due and owing.

The IRS-Criminal Investigation Division led the investigation. Assistant U.S. Attorney Charles E. Atchley, Jr. represented United States.

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