CT contractor pleads guilty to tax evasion. He evaded almost $800K in taxes.
A Newtown contractor accused of failing to pay almost $800,000 in taxes over seven years waived his right to be indicted and pleaded guilty to one count of tax evasion in federal court in Bridgeport, according to federal authorities.
Thomas R. Saint, 67, is the sole owner of Tom Saint Painting and Remodeling LLC, which offers painting and home renovation services. According to court records, Saint allegedly avoided paying federal taxes between 2013 and 2019 by cashing business checks instead of depositing them into his business’s bank account, depositing cash and business checks into his personal bank account and failing to disclose the transactions to his tax preparer, which led to filing false returns with the IRS.
Court records allege that Saint failed to report a total of $2,163,645 in gross receipts, resulting in a tax loss of $791,500.
According to the U.S. Attorney’s office, Saint agreed to pay the IRS all outstanding taxes, interest and penalties.
Saint faces a maximum of five years in prison on the tax evasion charge. He will be sentenced on May 22 by U.S. District Judge Michael P. Shea in Hartford.
He is currently free on a $100,000 bond pending sentencing.
