Ex-Springdale businessman gets 21 months for tax evasion
Posted: April 24, 2014 at 4:59 p.m.
Steven Kolb, 59, was sentenced to 21 months in prison, three years of supervised release and a $2,500 for failing to pay more than $117,455 in federal income taxes, according to a news release from U.S. Attorney Conner Eldridge.
Kolb and his wife owned and ran Stone Art Designs, a granite and stone installation business, from 2004 to 2010, according to the release.
Kolb withheld taxes from employees' checks but did not pay those taxes to the Internal Revenue Service, the release states.
"The IRS Criminal Investigation Division takes these violations of law very seriously," Special Agent in Charge Christopher A. Henry said in the release. "Employment tax fraud can also impact employees, who may see future benefits such as Social Security, Medicare or Unemployment Compensation reduced or eliminated because of their employers not complying with the law."
Kolb was also ordered to pay $117,455.36 to in restitution to the IRS.
Correction: A previous version of this incorrectly stated Kolb's sentence. The error has been corrected.