A Placerville man pleaded guilty in federal court Thursday on two counts of willfully making false tax returns.
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Thomas W. Stringfellow, 55, entered the plea regarding allegations of more than $1.1 million in underreported business income and more than $1 million in personal income on tax returns between 2006 and 2010, a press release from U.S. Attorney Benjamin B. Wagner announced.
The owner of New Horizon Painting, Stringfellow cashed some checks meant for other accounts, not reporting them as income. The total tax loss amounted to more than $687,000.
Judge Morrison C. England Jr. will sentence Stringfellow on Dec. 18. He faces a maximum of three years in prison and a $250,000 fine for each count.
The case was investigated by the IRS and was prosecuted by Assistant U.S. Attorney Jean M. Hobler.