Federal Grand Jury Charges Joseph Stewart with Evading Taxes on $6.8M in Income
A federal grand jury in Miami on Friday indicted a local businessman, Joseph Stewart, on charges of tax evasion and filing false tax returns. According to the indictment, Stewart allegedly evaded taxes on over $6.8 million in dividends from his stake in a company that sold internet access to U.S. military personnel and contractors overseas.
The indictment claims that Stewart, a co-owner of the business, stopped filing timely tax returns between 2013 and 2021 after the company became profitable.
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After receiving letters from the IRS in 2019, Stewart allegedly hired tax professionals and falsely claimed that over $3.8 million in dividends were non-taxable loans. He also purportedly lied about not knowing the other shareholders. This led the tax professionals to prepare and file returns that underreported his income and taxes.
In a separate instance, Stewart is also accused of filing a false affidavit with the U.S. Citizenship and Immigration Service in April 2016, where he claimed to have filed tax returns for the previous three years. He allegedly attached false, unfiled copies of returns, falsely attesting they were true and correct.
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If convicted, Stewart faces significant prison time. Each count of tax evasion carries a maximum penalty of five years, while each count of subscribing to a false tax return carries a maximum of three years. He also faces supervised release, restitution, and monetary penalties. The final sentence will be determined by a federal judge, who will consider the U.S. Sentencing Guidelines.
The case is being investigated by IRS Criminal Investigation and the Special Inspector General for Afghanistan Reconstruction, with prosecution handled by Trial Attorneys Ezra Spiro and Likhitha Butchireddygari of the Tax Division.
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