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Ithaca Man Sentenced for Failing to File Tax Return

Ithaca Man Sentenced for Failing to File Tax Return

February 9, 2012 Updated Feb 9, 2012 at 5:19 PM EDT

(WBNG Binghamton) United States Attorney for the Northern District of New York Richard S. Hartunian on Thursday announced that a 44-year-old Ithaca man was sentenced in U.S. District Court in connection with his previously entered plea of guilty to failing to file a tax return for tax year 2007.

United States Magistrate Judge George H. Lowe sentenced Terence Taylor to two years probation, and ordered Taylor to pay taxes due to the Internal Revenue Service in the amount of $751,410.00. In addition, Taylor was ordered to perform 200 hours of community service.

In his plea entered on October 3, 2011, Taylor admitted he failed to file tax returns for the years 2004 through 2008, and was responsible to the Internal Revenue Service for more than $800,000 in back taxes for those years.

Taylor was self employed as a financial consultant during the years 2004 through 2008.

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