A York County resident, Waylon Wilcox, 45, of Dillsburg, Pennsylvania, faces charges for filing false income tax returns, as announced by the United States Attorney's Office for the Middle District of Pennsylvania. According to Acting United States Attorney John C. Gurganus, the charges involve two counts of making and subscribing to false individual income tax returns.
The case against Wilcox centers on allegations that he engaged in a complicated cryptocurrency scheme. It is claimed that he sold shares for substantial amounts, totaling over $7.4 million in 2021 and nearly $4.9 million in 2022. However, these gains were reportedly not declared on his individual tax returns.
The allegations further specify that Wilcox's 2021 tax return underreported his income by approximately $8.5 million, consequently reducing his tax obligation by about $2.18 million. Similarly, his return for 2022 allegedly understated income by roughly $4.6 million, decreasing his tax liability by around $1.1 million.
Yury Kruty, Special Agent in Charge of the Philadelphia Field Office, stated, "IRS Criminal Investigation is committed to unraveling complex financial schemes involving virtual currencies and non-fungible token (NFT) transactions designed to conceal taxable income. In today’s economic environment, it’s more important than ever that the American people feel confident that everyone is playing by the rules and paying the taxes they owe."
The case is being investigated by the Internal Revenue Service, Criminal Investigation, and is prosecuted by Assistant U.S. Attorney David C. Williams.