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Small Business Lifestyle

Connecticut accountant sentenced for filing false tax returns [Video]

Farmington accountant Mark Legowski is ordered to pay $10,000 fine for false tax returns.

FARMINGTON, Conn. — Farmington accountant Mark Legowski, 60, was sentenced Monday in Bridgeport to eight months in prison for filing false tax returns, according to a release from the U.S. Attorney for the District of Connecticut. 

U.S. District Judge Kari A. Dooley also imposed a $10,000 fine, according to prosecutors. Legowski’s prison sentence will be followed by one year of supervised release. 

Legowski, a self-employed accountant, underreported his business income from 2015 to 2017 to reduce his personal tax liability, according to prosecutors. When he was the owner of Legowski & Company, Inc., he intentionally excluded customer payment checks from his bookkeeping, resulting in over $1.4 million in unreported income. Prosecutors say this led to a $499,289 loss for the Internal Revenue Service.

The false tax returns were filed for three consecutive years: in 2015, Legowski reported no taxable income, though …

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Elon Musk, Vivek Ramaswamy to lead new 'Department of Government Efficiency' [Video]

President-elect Donald Trump on Tuesday said Elon Musk and former GOP presidential candidate Vivek Ramaswamy will lead a new Department of Government Efficiency" which is not, despite the name, a government agency.The acronym DOGE is a nod to Musk's favorite cryptocurrency, dogecoin. Trump said in a statement that Musk and Ramaswamy will work from outside the government to offer the White House advice and guidance and will partner with the Office of Management and Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before. He added that the move would shock government systems.It's not clear how the organization will operate. It could come under the Federal Advisory Committee Act, which dictates how external groups that advise the government must operate and be accountable to the public.Federal employees are generally required to disclose their assets and entanglements to ward off any potential conflicts of interest, and to divest significant holdings relating to their work. Because Musk and Ramaswamy would not be formal federal workers, they would not face those requirements or ethical limitations.Musk posted on X: Department of Government Efficiency. The merch will be (fire emojis). Later he added: Threat to democracy? Nope, threat to BUREAUCRACY!!!Musk has been a constant presence at Mar-a-Lago since Trump won the presidential election.The president-elect has often said he would give Musk a formal role overseeing a group akin to a blue-ribbon commission that would recommend ways to slash spending and make the federal government more efficient. Musk at one point suggested he could find more than $2 trillion in savings nearly a third of total annual government spending.Trump had made clear that Musk would likely not hold any kind of full-time position, given his other commitments.I dont think I can get him full-time because hes a little bit busy sending rockets up and all the things he does, Trump said at a rally in Michigan in September. He said the waste in this country is crazy. And were going to get Elon Musk to be our cost cutter.Ramaswamy suspended his campaign in January and threw his support behind Trump.Trump said in his statement the two will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies."