Centre County man gets 18 months for evading $211,248 in federal taxes
WILLIAMSPORT – A Centre County man is headed to prison for 18 months for underreporting $807,578 in income over a seven-year period, resulting in a federal tax loss of $211,248.
Jeremy Snyder, 43 of State College, told U.S. Middle District Judge Matthew W. Brann on Monday he has no excuse for what he did but asked for probation, claiming he had paid the taxes owed the Internal Revenue Service.
He claimed he had been punished sufficiently because he can no longer purchase #1 Cycle Center Harley-Davidson Inc. in State College, where he had been general manager and is still employed. Being a convicted felon eliminates him from owning a dealership.
Owner Earl Yearick chose not to pursue charges related to Snyder stealing $80,000 from the business and asked Brann not to imprison him, saying he has accepted responsibility.
Although Snyder has paid the $211,248 owed in taxes from 2009 through 2016, his attorney Richard F. Maffett Jr. said the IRS has assessed him an additional $222,829 in interest and penalties that continue to compound.
He had to liquidate savings and retirement accounts and obtain a loan to pay off the $211,248, the attorney said.
Assistant U.S. Attorney Scott A. Ford argued that placing Snyder on probation because he paid what he owed the IRS would not be punishment.
The prosecutor pointed out Snyder was making more than $100,000 annually but took money from the business that was used for household expenses, vacations and to pay off credit cards.
In imposing the 18-month jail sentence followed by two years of supervised release, Brann described Snyder’s conduct as extensive, repeated and egregious.
The judge allowed him to self-report to prison on March 12.
Snyder, a father of four who has an accounting degree from Susquehanna University, had pleaded guilty in July to a tax evasion charge.