An El Dorado Hills resident and chief executive officer for a software development company was arrested today on suspicion of state income tax evasion.
Guy Archbold, 62, allegedly failed to file his 2007, 2008, 2011 and 2012 state income tax returns and failed to report more than $1.5 million in earned income during these tax years, according to state Franchise Tax Board news release. Authorities say Archbold owes the state more than $78,000 in unpaid taxes. Penalties, interest and the cost of the investigation will be added to this amount and sought as restitution, authorities said.
According to the arrest warrant, Archbold failed to respond to numerous Franchise Tax Board requests demanding that he file and pay his delinquent tax liabilities.
Every year, the Franchise Tax Board contacts more than a million individuals who earned California income but did not file a state tax return. Authorities said the agency compares its records of filed tax returns with more than 400 million income records it receives each year from third parties such as the Internal Revenue Service, banks, employers, state departments and other sources. Most cases, they said, are resolved in the Franchise Tax Board’s civil compliance programs.
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Archbold was booked into El Dorado County Jail in Placerville with bail set at $78,000. He is to be arraigned Thursday in El Dorado County Superior Court.