John Gaeta Jr. admitted he failed to report two years worth of taxable income he earned as owner of Big Slice Pizza in Ocean City.
A Cherry Hill resident and the owner of a pizzeria in Ocean City pled guilty on Oct. 23 to filing false tax returns.
John Gaeta Jr., 54, entered his plea in Camden federal court before U. S. District Judge Noel L. Hillman. Gaeta pleaded guilty to a one count information charging him with filing false tax returns for the 2012 and 2013 tax years. Sentencing is scheduled for Feb. 2, 2018.
“IRS-Criminal Investigation’s largest enforcement area is directed at individuals and businesses that intentionally attempt to cheat the government by not paying their fair share of taxes,” stated Jonathan D. Larsen, special agent in charge, IRS-Criminal
Investigation, Newark field office. “Today’s guilty plea by Mr. Gaeta is another example of how serious we take tax offenses and that we will continue to vigorously pursue these types of investigations.”
According to court documents and statement made in court, Gaeta was the owner and operator of Big Slice Pizza, located on the boardwalk in Ocean City. Gaeta concealed his ownership of Big Slice Pizza by naming his wife as the owner even though she had no involvement in the business. Gaeta also caused his wife to report some of the income and expenses of Big Slice Pizza on her personal tax returns.
Gaeta admitted that for the years 2012 and 2013 he filed false income tax returns with the Internal Revenue Service. Gaeta admitted that these returns were false because he failed to report approximately $375,882 in 2012 and $307,669 in 2013 of taxable income he earned from Big Slice Pizza. The $683,551 in total unreported income caused a tax due and owing to the government of approximately $85,522.
The count of filing a false tax return carries a statutory maximum prison sentence of three years and a statutory maximum fine equal to the greatest of either $250,000, twice the gross amount of any pecuniary gain derived from the offense, or twice the gross amount of any pecuniary loss sustained by any victims of the offense.
