Walled Lake-based software developer pleads to tax evasion, faces possible prison time – The Oakland Press
A Walled Lake-based software developer has admitted to employment tax violations, the Department of Justice reported.
Yigal Ziv, owner and operator of Multinational Technologies, Inc., pleaded guilty Nov. 29 to willful failure to collect and pay employment taxes on behalf of his employees.
Ziv used the money for his personal benefit, including home mortgage payments, lease payments on luxury vehicles and retail purchase as stated in court records, according to the DOJ.
From the first quarter of 2018 through the first quarter of 2018, Ziv collected approximately $691,000 in employment taxes from employees, but didn’t file employment tax returns or pay withheld taxes to the IRS, the DOJ stated.
And while aware that the IRS was investigating him, Ziv didn’t file MTI’s employment tax returns from 2019’s fourth quarter through 2020’s fourth quarter, and didn’t pay over approximately $199,000 in withheld payroll taxes to the IRS, the DOJ stated.
Ziv is scheduled for sentencing in federal court in Detroit on Feb. 22, 2023 and faces up to five years in prison. He also faces supervised probation, fines and restitution.
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