Lakewood Business Man Is Sentenced For Failing To File Income Tax Returns And Pays The IRS Approximately $2.9 Million
DENVER – Jeremy J. Shull, age 36, of Lakewood, CO, was sentenced earlier this week by U.S. District Court Judge William J. Martinez to serve 4 months in federal prison for failure to file tax returns, United States Attorney John F. Walsh and IRS Criminal Investigation Special Agent in Charge Stephen Boyd announced. Following his prison sentence, Shull was ordered to serve one year on supervised release. Shull was charged by an information on September 3, 2013 and plead guilty before Judge Martinez on October 7, 2013. As part of the plea agreement, he agreed to pay $1,268,478 in taxes, over $975,000 in penalties, and nearly $700,000 in interest. Shull paid these amounts in full prior to his sentencing hearing.
According to documents filed with the courts, the defendant’s relevant conduct began in January of 2002. From August 2004, Shull has been the sole owner and operator of Independent Roofing Specialists, LLC, ("Independent") a business which is and has been active in commercial and residential roofing in Colorado since 1999. Prior to August 2004, Shull operated Independent with another individual, first as a partnership and then as a two-member LLC.
During the calendar years 2002 through 2009, Independent was a profitable business that brought in substantial revenues. Shull knew his business had significant gross income for each of the calendar years that required him to file personal federal income tax returns with the Internal Revenue Service ("IRS"). As a result of his income from Independent from 2002 through 2009, Shull had federal income taxes due and owing totaling approximately $1,268,478, in the amounts of approximately: $34,807 for 2002; $46,636 for 2003; $113,422 for 2005; $215,708 for 2006; $548,780 for 2007; $205,538 for 2008; and $103,587 for 2009.
Particularly, for calendar year 2007, Independent had gross income of approximately $4,840,683, requiring Shull to file a personal income tax return on or before April15, 2008 with the IRS. Shull had approximately $548,780 in federal income tax due and owing for calendar year 2007. As part of the plea agreement, Shull agreed to file, and has filed, tax returns for all of the years in question.
“Failing to file income tax returns can come with criminal consequences,” said U.S. Attorney John Walsh. “In Mr. Shull’s case, he intentionally failed to report his income to the IRS. By hiding his income the court held him accountable for not paying his fair share of income taxes.”
“Income tax fraud is based on greed; individuals who commit tax fraud are merely stealing money and creating an unfair tax burden on honest tax paying citizens,” said Stephen Boyd, Special Agent in Charge for IRS Criminal Investigation, Denver Field Office.
This case was investigated by IRS Criminal Investigation with assistance from the Special Enforcement Program of the Internal Revenue Service.