In Jacksonville, Florida, a federal grand jury has returned an indictment against a local businessman, Phillip Mak, on serious tax-related charges.

He stands accused of tax evasion, failing to file tax returns, and neglecting to pay his federal taxes over several years.

Allegations of Massive Tax Evasion

The indictment reveals that from 2008 to 2020, Mak, who was self-employed, earned an estimated $10.3 million in income.

However, the businessman allegedly did not file tax returns for most of those years, except for two, and failed to pay any federal taxes.

As a result, the IRS claims Mak owes approximately $1.9 million in unpaid taxes, penalties, and interest for multiple years, including 2008, 2009, 2012-2015, and 2019-2020.

Attempted Concealment of Assets

Rather than settle his tax obligations, Mak is accused of trying to hide his assets from the IRS.

According to the indictment, he transferred $1 million in cash to his domestic partner’s bank accounts in an apparent attempt to shield the money.

The charges also claim that after speaking with IRS investigators, Mak transferred ownership of his home to his partner’s trust, created a fake business entity, and began funneling his income into an account linked to that entity.

Consequences If Convicted

If found guilty of the charges, Mak could face a significant prison sentence.

He faces up to five years in prison for tax evasion and up to one year for each count of failing to file a tax return and pay taxes.

A federal district court judge will determine the length of his sentence, taking into account U.S. Sentencing Guidelines and other legal factors.

Investigations and Prosecution

The investigation is being conducted by the IRS Criminal Investigation division.

The case is being prosecuted by Trial Attorneys Isaiah Boyd and Michael Jones from the Justice Department’s Tax Division, along with Assistant U.S. Attorney John Cannizzaro for the Middle District of Florida.

It’s important to note that an indictment is only an accusation, and Mak is presumed innocent until proven guilty beyond a reasonable doubt in court.

This article was published on TDPel Media. Thanks for reading!

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