Produce Vendor Sentenced to Prison for Tax Evasion
Wisconsin Ag Connection - 05/11/2018
The former corporate officer of a Johnson Creek-based produce company who pleaded guilty to tax evasion has been sentenced to 18 months in prison. A deputy assistant attorney with the Justice Department's Tax Division issued the penalty to Thomas Paine
Paine served as vice president of G.W. Paine Inc., which sold fresh fruit and other produce under the business name Tree Ripe Citrus Co. Court records state that Paine was responsible for the finance and tax aspects of the business, but failed to file corporate
tax returns for tax years 2010 through 2012. He also concealed the business' income from the Internal Revenue Service by structuring cash bank deposits in amounts less than $10,000 to evade bank reporting requirements.
Paine admitted to causing a tax loss between $250,000 and $550,000, according to Principal Deputy Assistant Attorney General Richard Zuckerman.
In addition to the term of imprisonment, Paine was also ordered to serve two years supervised release and to pay restitution of nearly $422,000.