Hillsborough Business Owner Indicted for Tax Fraud

A Hillsborough business owner appeared in a San Francisco federal court on tax fraud charges Friday after allegedly concealing a bank account from his accountant and filing false tax returns between 2008 and 2010, according to the office of U.S. Attorney Melinda Haag.

Brian Peter Stallings was the president of a painting business known as Stallings Painting, Inc. from 2008 to 2011, according to the U.S. Attorney.

From 2008 to 2010 Stallings maintained two bank accounts where he made business-related deposits, but he only disclosed one of those accounts to his accountant. Stallings allegedly filed false tax returns in 2008, 2009 and 2010, according to the U.S. Attorney.

Stallings also allegedly failed to collect or account for federal income taxes withheld from his employees wages, or turn those withholdings over to the IRS from 2009 to 2011, according to the U.S. Attorney.

If convicted, Stallings could face five years in prison and a fine of $250,000.

Bay City News

Please make sure your comment adheres to our comment policy. If it doesn't, it may be deleted. Repeat violations may cause us to revoke your commenting privileges. No one wants that!