Tuscola Businessman sentenced for Income Tax Evasion

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SPRINGFIELD – In an update to a story WAND News in August, a Tuscola businessman who plead guilty to income tax evasion has been sentenced to 30 months in prison and to pay over a million dollars to the IRS.

49-year-old Lorenzo Shane Stewart, owner of Ten Acres Excavating, has been ordered to serve two and half years in prison and to pay $1,122,074 in restitution to the IRS for failure to pay income tax. He will serve the first six months of his three-year-term of supervised release under home confinement.

Stewart appeared in federal court in Springfield today, March 8, before U.S. District Judge Sue E. Myerscough.

The Tuscola business owner pled guilty on August 21, 2015, to two counts of income tax evasion. He admitted that he failed to pay more than $1.12 million in income tax for the 2008 and 2009 tax years. He began his business in 2006 but put the business under the name of one of his employees.

Although Stewart operated the business and received the income generated from the business, he did not claim income generated by the Ten Acre Excavating on his own tax returns.

A further breakdown of his crimes can be found in WAND’s previous article.

Stewart has been ordered to report on May 8, 2016, to the federal Bureau of Prisons to begin serving his prison sentence.

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