Owner of Dayton medical billing company to pay half a million in restitution to IRS
DAYTON, Ohio (WKEF/WRGT) - The owner of a Dayton medical billing company is set to pay more than half a million dollar in restitution to the IRS after pleading guilty to one count of failing to pay over employment taxes.
According to court documents, Vernon Frederick Glaser II owned and operated a medical billing business between the fourth quarter of 2007 and first quarter of 2016. He was responsible for preparing and filing the employment and income tax returns for Vernon Glaser & Associated, Inc., and for the remittance of taxes due.
Within that same time period, he withheld the federal income taxes and FICA taxes from employees' pay, but for at least 18 quarters between 2008 and 2016, filed to pay over to the IRS the withheld money and the employer's matching share of FICA taxes.
The willful failure to pay over employment taxes carries a maximum penalty of five years in prison and a fine of up to $250,000. Glaser has agreed to pay the $512,462.13 in restitution.