Chicago Area Man Pleads Guilty in State’s Largest-Ever Tax Evasion Case
South Barrington Man Underreported Over $104 Million in Gross Receipts
A South Barrington man has pleaded guilty to a long-term tax evasion scheme in which he underreported more than $104 million in gross receipts.
Sam Cirrincione Sentenced to Four Years in Prison
Sam Cirrincione, 60, was sentenced to four years in prison for his guilty plea to a felony charge of continuing a financial crimes enterprise, according to a news release from the Illinois Department of Revenue.
Largest Sales Tax Evasion Case in State’s History
Officials said the $104 million in underreported gross receipts was the largest amount ever discovered in a sales tax evasion case in the state’s history.
Cirrincione to Pay $10.5 Million in Restitution
Cirrincione will have to pay about $10.5 million to the state in restitution.
IDOR Director Pledges to Pursue Tax Evaders
“Those who evade paying their required taxes harm the great majority of taxpayers who pay what is owed and pay on time,” said IDOR Director David Harris, in a statement. “As a protection to all taxpayers the department will remain vigilant in pursuing those who break the law and try to avoid paying required taxes.”
Cirrincione Indicted in 2022
Cirrincione was indicted in 2022 for theft of over $100,000, sales tax evasion, filing a fraudulent sales tax return, forgery, and income tax fraud among other charges.
Conclusion
This case serves as a reminder of the importance of paying taxes and the consequences of tax evasion. The Illinois Department of Revenue will continue to work to protect taxpayers and bring to justice those who try to evade their tax responsibilities.
FAQs
* What was the amount of underreported gross receipts in this case?
+ Over $104 million
* How long was Sam Cirrincione sentenced to prison?
+ Four years
* What was the largest amount ever discovered in a sales tax evasion case in the state’s history?
+ Over $104 million
* How much restitution does Cirrincione have to pay?
+ About $10.5 million
