James Mailhiot, Jr., a resident of Rutland, Vermont, has entered a guilty plea to federal income tax evasion charges. The plea was made in the United States District Court in Rutland, with U.S. District Judge Mary Kay Lanthier presiding over the case. Mailhiot has been released on conditions while awaiting sentencing, which is set for March 27, 2025.
The United States Attorney's Office had filed a one-count information against Mailhiot on November 14, 2024. The charge pertained to his evasion of a significant portion of the income taxes owed to the United States for the tax years spanning from 2019 through 2022.
Mailhiot operated a roofing business that generated approximately $1.6 million in gross revenues during this period. He employed an out-of-state accountant to prepare his federal income tax returns and provided records of revenues and expenses related to his roofing jobs each year. However, these records were incomplete, leading to substantial understatements of taxable income and significant underpayments totaling $296,000 for the years in question.
Mailhiot could face up to five years in prison and a fine reaching $100,000. The final sentence will be determined by the District Court based on advisory guidelines and statutory factors.
The Internal Revenue Service's Criminal Investigation division conducted the investigation into this case. Mark Kaplan, Esq., represents Mailhiot, while Assistant U.S. Attorney Gregory Waples serves as the prosecutor.