SACRAMENTO — A Placerville man Thursday pleaded guilty to two charges of willfully making false tax returns, underreporting his business income by more than $1.1 million and his personal income by more than $1 million between 2006 and 2010.
Thomas W. Stringfellow, 55, owned New Horizon Painting. Rather than deposit all of the business checks into the appropriate accounts, he cashed some of the checks and did not report them as income, causing a tax loss of more than $687,000, according to U.S. Attorney Benjamin B. Wagner.
Stringfellow is scheduled to be sentenced by Judge Morrison C. England, Jr., on December 18. He faces up to three years in prison and $250,000 in fines for each count.