SAN JOSE – A South Bay govt was sentenced Tuesday to at least one 12 months and someday in jail for failing to pay greater than $1 million in employment taxes to the IRS, federal prosecutors stated.
Because the CEO of Campbell-based metal-coating firm Vivid Inc., John Comeau was liable for withholding Social Safety and federal revenue taxes from the wages of employees after which paying these funds to the IRS every quarter, based on the U.S. Lawyer’s Workplace.
Nonetheless, from the primary quarter of 2010 to the fourth quarter of 2019, Comeau didn’t pay all of the taxes owed to the IRS, prosecutors stated. He additionally filed false quarterly employment tax returns, underreporting Vivid’s wages by greater than $5 million.
Comeau hid the scheme by issuing tax types to workers that both underreported or over-reported wages paid to them by the corporate, based on prosecutors.
Prosecutors stated Comeau used a number of the withheld funds to take care of a “comfortable lifestyle” that included a $3 million residence in Santa Clara and luxurious vehicles.
Comeau prompted a complete tax loss to the IRS of about $1.15 million, based on prosecutors.
Along with one 12 months and someday in jail, a federal decide ordered Comeau to serve three years of supervised launch and pay $1.15 million in restitution to the IRS.
