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August 25, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Greenwich landscaper pleads guilty to tax evasion

The owner of a Greenwich landscaping and snowplowing business pleaded guilty to one count of tax evasion for intentionally under-reporting more than $2.5 million in gross receipts on his federal tax returns between 2009 and 2013.

Pasquale F. Furano, whose Pasquale Furano Landscaping serves between 150 to 200 commercial and residential customers in Fairfield and Westchester Counties, reported total taxable income of $264,697 during the five years in question; his actual total taxable income was $1,751,727.

As a result of this deceit, he only paid a total of $44,213 in federal taxes when he owed an additional $540,182. An investigation by the Internal Revenue Service (IRS) determined that Furano conducted this fraud by negotiating approximately 2,436 client checks, totaling approximately $1,295,990.23, at his bank for cash rather than depositing the checks into his business accounts, sometimes cashing up to 38 checks in one day.

Furano faces up to five years in prison. An October 2014 search of Furano’s residence by IRS agents uncovered $613,842 in cash, which Furano has agreed to pay to his outstanding tax liability. Furnao is estimated to owe the IRS remaining penalties of $480,179, and he owes the Connecticut Department of Revenue Services $112,360 in unpaid sales taxes he collected from his customers from 2009 to 2013.