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Ex-NJ Business Owner From Brooklyn Admits Ducking Taxes On $4.1M Company Buyout Ex-NJ Business Owner From Brooklyn Admits Ducking Taxes On $4.1M Company Buyout
Ex-NJ Business Owner From Brooklyn Admits Ducking Taxes On $4.1M Company Buyout UPDATE: A former New Jersey business owner admitted short-changing the IRS by $1.1 million after selling his stock to the company. David Seruya, 42, of Brooklyn sold his shares to the Edison-based home-warranty company for more than $4.1 million in a 2014 buyout, federal authorities said. The deal included a lump sum payment and installment payments spread out over 24 months, according to the U.S. Justice Department. On three straight tax returns, from 2014 through 2016, Seruya gave his return preparer “false and incomplete income information,” underreporting the income he received from th…

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by Jerry DeMarco
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NYC Businessman Indicted For Evading Taxes From $4.1M NJ Company Buyout NYC Businessman Indicted For Evading Taxes From $4.1M NJ Company Buyout
NYC Businessman Indicted For Evading Taxes From $4.1M NJ Company Buyout A shareholder with a New Jersey-based home warranty company ducked more than $250,000 in taxes from the sale of his stock, federal authorities charged. In exchange for his shares, the Edison company agreed to pay David Seruya, 42, of Brooklyn more than $4.1 million, the Justice Department said. The deal included a lump sum payment and installment payments spread out over 24 months, federal authorities said. On three straight tax returns, from 2014 through 2016, Seruya gave his return preparer “false and incomplete income information,” underreporting the income he received from the sale, a…

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by Jerry DeMarco
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Entrepreneur From Wayne Admits Ducking $550,000 In Employment Taxes At Fair Lawn Businesses Entrepreneur From Wayne Admits Ducking $550,000 In Employment Taxes At Fair Lawn Businesses
Entrepreneur From Wayne Admits Ducking $550,000 In Employment Taxes At Fair Lawn Businesses A Wayne entrepreneur who authorities said owned and operated several businesses in and around Fair Lawn admitted in federal court that he ducked nearly $550,000 in employment taxes. Dennis Saccurato, 68, told a judge during a teleconferenced plea hearing in Trenton that he failed to withhold, report and pay over employment taxes to the IRS from 2014 through 2016, federal authorities said. Saccurato also admitted that he was required to file IRS Form 941 on a quarterly basis but failed to do so, IRS-Criminal Investigation Special Agent Robert Glantz said. All told, Saccurato failed to pay o…

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by Jerry DeMarco