Moon Township man pleads guilty to filing false tax returns, gaining over $1 million

MOON TWP. ― A local man has pleaded guilty to filing a false tax return, which led to over $1 million in tax loss.

According to the Department of Justice, 53-year-old Albert Boyd Jr. entered a guilty plea for willingly filing false tax returns on Wednesday. According to investigators from the IRS, Boyd intentionally did not report the income from his business, Boyd Roll-Off Services, on the business's tax returns from 2017-22.

In court, it was determined this reporting caused the loss of $1.03 million in public tax dollars. As a part of the guilty plea, Boyd admitted that he had ensured much of the company's income from the sale of scrap metal went unreported by not depositing cash into the business's bank account and depositing checks into accounts not associated with the business. Boyd then failed to provide his tax prepares with records indicating these funds were diverted.

Boyd is scheduled to receive a sentence later this year. Under the law, Boyd may face up to three years in prison and a potential fine of up to $250,000 or twice the amount gained through the crime.

This article originally appeared on Beaver County Times: Moon Township man pleads guilty to filing false tax returns, gaining over $1 million