A Placerville businessman was sentenced Thursday in federal court in Sacramento to 18 months in prison for filing false tax returns.
U.S. District Judge Morrison C. England Jr. also ordered Thomas W. Stringfellow, 55, to pay $687,182 in restitution for willfully filing false tax returns, according to a U.S. Attorney’s Office news release.
Court records indicate that from 2006 through 2010, Stringfellow, the owner of New Horizon Painting, under-reported his business income on tax returns by more than $1.1 million and under-reported his personal income on tax returns by more than $1 million. Rather than depositing all of the business checks into the appropriate accounts, Stringfellow cashed some of the checks and did not report those amounts as income. His under-reporting of business and personal income led to a tax loss of more than $687,000, authorities said.
The case resulted from an investigation by the Internal Revenue Service, Criminal Investigation.
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Call The Bee’s Cathy Locke, (916) 321-5287.