Will pay over $300,000 in back taxes and $250,000 penalty.
The Internal Revenue Service Criminal Investigation (IRS-CI) agency announced that the owner of a Fullerton, Calif.-based auto body shop pleaded guilty November 15 to filing false tax returns for tax years for tax years 2015 to 2022, underreporting his income by at least $1,184,914.
In Chun Jung, 57, of Anaheim, owned and operated JY JBMT INC., doing business as JY Auto Body, which was registered as a subchapter S corporation. S corporations elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. Shareholders
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