Seaside Heights Motel Co-Owner admits filing false income tax returns
Kenneth Bowden, 67, of Normandy Beach was the Co-Owner and Operator of K & J Motel, Inc., and Sand & Surf Motel plead guilty Tuesday to filing false income tax returns from 2010 through 2013 and deposited a large amount of money from cash receipts into his personal bank accounts.
“The license to run a business is not a license to avoid paying your taxes,” said Jonathan D. Larsen, Special Agent in Charge, IRS-Criminal Investigation, Newark Field Office in a statement. “Filing false tax returns is not a victim-less crime. We all pay when others swindle the government.”
According to court documents Bowden opened up at least eight personal bank accounts at two separate banks.
During the time period of 2010-13 Bowden didn't report the cash receipts on the K & J Motel returns, and failed to report his income on personal tax returns in the amounts of $167,345, $177,723, $206,537 and $116,844 respectively.
Bowden faces a maximum sentence of three years in prison and a hefty fine if convicted at a sentencing March 1, 2017.
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