NEWARK, N.J. – A New Brunswick certified public accountant (CPA) was arrested today for allegedly underreporting more than $650,000 of income on his personal tax returns, U.S. Attorney Craig Carpenito announced.
Amit Govil, 58, of New Brunswick, New Jersey, is charged by indictment with two counts of making and subscribing false tax returns. Govil was arrested earlier today at his home and is scheduled to appear this afternoon before U.S. Magistrate Judge Michael A. Hammer in Newark federal court.
According to documents filed in the case and statements made in court:
Govil is licensed in New York and New Jersey as a CPA. He operated a sole proprietorship referred to in the indictment as “Company A,” a business providing risk management and audit services to community banks, headquartered in East Brunswick, New Jersey.
For the tax years 2010 and 2011, Govil underreported and failed to report the gross receipts or sales of Company A on Schedule C of his personal tax returns, as he was obligated to do. Govil, through Company A, earned more than $3.9 million in gross receipts or sales for tax year 2010, and more than $4.3 million in gross receipts or sales for tax year 2011. Notwithstanding the actual gross receipts or sales that Govil earned through Company A, he reported gross receipts or sales of only $3,352,848 for tax year 2010, and $4,205,175 for tax year 2011.
Each count of making and subscribing false tax returns carries a maximum potential penalty of three years in prison and $250,000 fine, or twice the gross gain or loss from the offense.
U.S. Attorney Carpenito credited Special Agents of the IRS, under the direction of Special Agent in Charge John R. Tafur, with the investigation leading to today’s arrest.
The government is represented by Assistant U.S. Attorney Courtney A. Howard of the U.S. Attorney’s Office Economic Crimes Unit.
The charges and allegations in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
Defense counsel: Jeffrey Alberts Esq., New York
SOURCE: news provided by JUSTICE.GOV on Thursday, October 11, 2018.