A Port Byron, Illinois, man who was formerly the president of the National Center on Public Education and Prevention was sentenced to prison time after failing to meet his tax obligations to the U.S. government.
Thomas Schroeder was found guilty of scheming more than $2 million from a number of organizations over the course of a five-week trial in the state last summer.
Prosecutors say Schroeder worked with former University of Louisville Dean Robert Felner to avoid paying more than $786,000 in federal income taxes on his annual earnings. Felner was ultimately sentenced to 63 months in prison after pleading guilty to charges of mail fraud, conspiracy to defraud the IRS and six counts of tax evasion.
From 2001 to 2008, Schroeder and Felner conspired to use the NCPEP to hide earnings they received from the National Center on Social Policy at the University of Rhode Island and the Rock Island County Counsel on Addictions.
Schroeder was sentenced to 46 months in prison and two years of supervised release following the end of his jail term.
These articles are all written by TaxLawHome.com's great editors and contributors. If you would like to write articles for TaxLawHome.com, please email editor[at]taxlawhome.com.
=== More Tax News ===