Connecticut CPA Pleads Guilty to Tax Evasion

David X. Sullivan, United States Attorney for the District of Connecticut, and Thomas Demeo, Acting Special Agent in Charge of IRS Criminal Investigation in New England, today announced that EDWARD J. SODLOSKY, 71, of Middlebury, waived his right to be indicted and pleaded guilty yesterday in New Haven federal court to tax evasion.

According to court documents and statements made in court, Sodlosky, a self-employed Certified Public Accountant, owned and operated Edward J. Sodlosky, Certified Public Accountant (“EJS-CPA”) in Naugatuck.  From 2016 through 2022, Sodlosky prepared and filed annual joint income tax returns with the Internal Revenue Service on behalf of himself and his spouse.  He also filed annual partnership income tax returns for an entity named FinGLTD, which he owned with his spouse.  During this seven-year period, Sodlosky willfully cashed more than 2,000 client payment checks to hide income generated by EJS-CPA. As a result, a substantial amount of EJS-CPA’s business receipts was diverted from EJS-CPA’s bank accounts, and not reported in his joint income tax returns (Forms 1040 and 1040-SR) or partnership income tax returns (Form 1065).

Sodlosky deposited funds derived from the cashed checks, as well as client payment checks to EJS-CPA, into a network of business, personal, and nominee accounts.  He maintained, controlled, and used 15 different bank accounts to deposit business receipts and to evade income taxes.  Through this scheme, Sodlosky failed to report to the IRS $1,379,694.21 in additional income, resulting in a tax loss to the government of $422,720.

Sodlosky is scheduled to be sentenced by U.S. District Judge Sarala V. Nagala in Hartford on April 15, 2026, at which time he faces a maximum term of imprisonment of five years.  He is also required to make full restitution to the IRS.

Sodlosky is released on a $50,000 bond pending sentencing.

This case was investigated by the Internal Revenue Service – Criminal Investigation, and is being prosecuted by Assistant U.S. Attorney Hal Chen.