Georgia Bar and Restaurant Owner Sentenced on Tax Evasion Charges

A Georgia man has been sentenced to 24 months in prison for evading taxes related to his ownership of multiple bars and a restaurant, as well as beer sales at a music festival.

Eugene R. Britt III, also known as Trey Britt of Milledgeville, Georgia, engaged in a tax evasion scheme over two decades related to income from his establishments. According to court documents and statements made in court, Britt and others concealed their ownership interest by causing each establishment to be nominally owned by a single person. They then skimmed cash profits, disbursed it among themselves, and did not report this cash as income to the IRS.

Britt’s case reveals how non-compliance can result in significant legal repercussions. In addition to his imprisonment term, U.S. District Judge J. Randal Hall of the Southern District of Georgia ordered Britt to serve three years of supervised release, pay a $10,000 fine, and provide $362,250 in restitution.

The tax evasion scheme extended beyond Britt’s brick-and-mortar businesses. In 2015, Britt did not report cash he received from beer sales at a music festival on his personal income tax returns, utilizing a similar structure to his restaurant and bar businesses.

The case was investigated by the IRS-Criminal Investigation and the FBI, highlighting the serious consequences of tax evasion. Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Jill E. Steinberg for the Southern District of Georgia made the announcement.

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This article, "Georgia Bar and Restaurant Owner Sentenced on Tax Evasion Charges" was first published on Small Business Trends