Philip Russell Turner, 53, of Strafford, pleaded guilty to one count of filing false tax returns in federal court in Springfield on Sept. 27, according to a news release from Western District of Missouri U.S. Attorney’s Office.
Co-owner and president of “Company A,” as identified in court documents, Turner failed to report personal income over several years and misrepresented personal expenses as company expenses, according to the release.
In 2018, Turner only reported $15,088 in income, failing to report additional income, and owes $351,620 in unpaid taxes from 2013, 2014 and 2015, in addition to using Company A funds to pay for $612,144 to renovate his personal residence in Strafford and cabins in Colorado between 2017 and 2018.
According to the release, Turner falsely told his accountant that the renovations were a company expense, in order to preclude them from his personal income on his tax returns. Turner has a combined outstanding income tax liability $158,966 for 2017 and 2018.
Under the plea agreement, Turner was ordered to pay $510,586 in restitution, plus interest to the Internal Revenue Service. Following a presentence investigation by the U.S. Probation Office, a sentencing hearing will be held. Turner faces up to three years in prison without parole.