OKLAHOMA CITY (KFOR) – The former owner of a construction business pleaded guilty in federal court last week to evading personal federal income taxes for the 2013 tax year.
On Dec. 4, 2018, Mickey Alvin Young was indicted by a federal grand jury on two counts of tax evasion.
Young operated Mickey Young Construction, a sole proprietorship that built concrete pits to hold millings at oil and gas well drilling sites, according to the indictment.
Evidence in the case showed that the business had gross receipts of more than $9 million in 2012 and more than $6 million in 2013.
Young’s income from his business was to be reported on his personal federal income tax return.
He was charged with under-reporting his income in both 2012 and 2013 by treating money that he used for personal purposes as deductible business expenses of Mickey Young Construction.
In July 2019, a jury was unable to reach a unanimous verdict on either count, and a mistrial was declared with the case set for re-trial.
On Jan. 30, Young pleaded guilty to tax evasion for the 2013 year. The government will dismiss the charge for 2012 at the time of sentencing.
Tax evasion carries a potential penalty of five years in prison, three years of supervised release, and a fine of up to $250,000. The parties have agreed, however, that Young should be sentenced to a maximum of eight months in prison. As part of his plea agreement, Young is required to pay restitution to the IRS. The parties have agreed that the tax loss to the United States is more than $550,000.
Sentencing has been set for April 30, 2020.