John H. Durham, United States Attorney for the District of Connecticut, announced that WILLIAM F. ANDERSON, 50, of New Milford, was sentenced today by U.S. District Judge Stefan R. Underhill in Bridgeport to 18 months of imprisonment, followed by two years of supervised release, for tax evasion.
According to court documents and statements made in court, Anderson owns several companies, including W.F. Anderson, LLC, a landscaping and excavation business based in Danbury; 1959, LLC; Retaining Wall Solutions; Wil-Rent; and Jacobs Creek Farm, LLC. For the 2007 through 2014 tax years, Anderson failed to pay more than $1.2 million in federal income taxes on nearly $4 million in income. Anderson committed multiple acts of evasion including, using business income to purchase cashier’s checks to keep income out of his accounts, conducting structured transactions to avoid the filing of Currency Transaction Reports (“CTRs"), and misrepresenting on a form that was filed with the IRS in May 2015 that he had less than $1,000 in a business checking account when, in fact, he had written checks for tens of thousands of dollars shortly before the submission of that form to conceal those assets from the IRS.
Federal law requires all financial institutions to file a Currency Transaction Report (“CTR") for currency transactions that exceed $10,000. To evade the filing of a CTR, individuals will often structure their currency transactions so that no single transaction exceeds $10,000. Structuring involves the repeated depositing or withdrawal of amounts of cash less than the $10,000 limit, or the splitting of a cash transaction that exceeds $10,000 into smaller cash transactions in an effort to avoid the reporting requirements.
On November 5, 2018, Anderson pleaded guilty to one count of tax evasion.
Anderson is required to cooperate with the IRS to pay all outstanding taxes, interest and penalties, which total more than $1.7 million.
Anderson, who is released on a $50,000 bond, was ordered to report to prison on April 24, 2019.
This matter was investigated by the Internal Revenue Service, Criminal Investigation Division. The case was prosecuted by Assistant U.S. Attorney David T. Huang.
Source: U.S. Department of Justice, Office of the United States Attorneys
