TAMPA, Fla. – Terence Taylor, a Clearwater resident, has pleaded guilty to obstructing and impeding the administration of internal revenue laws in a case involving efforts to evade paying over $810,000 in back taxes.
United States Attorney Roger B. Handberg announced the plea on February 10, 2025, noting that Taylor faces a maximum penalty of three years in federal prison.
According to court documents, Taylor was previously sentenced in 2012 for failing to file income tax returns for several years while living in the Northern District of New York. At the time, he owed more than $810,000 in taxes and was ordered to pay the debt during his sentence.
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However, after moving to Florida’s Middle District, Taylor engaged in a series of obstructive actions to prevent the Internal Revenue Service (IRS) from collecting the owed taxes.
Over a seven-year period, Taylor hid assets, transferred income and property to his wife and other nominees, and used funds that could have been applied to his tax debt to purchase luxury items, including boats, jewelry, and a home in Palm Harbor.
Despite earning income as a financial consultant during this time, Taylor made only minimal payments toward his tax debt while spending extensively on personal expenses.
The IRS made repeated attempts to collect the debt between 2004 and 2008, including sending Taylor numerous forms to detail his financial situation.
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Taylor responded by submitting false or incomplete information, omitting assets such as boats and providing inaccurate details about his business operations. He also failed to file personal income tax returns for several years after his New York sentence ended, despite earning sufficient income to require filing.
In one notable instance, Taylor used income from his business to purchase a $73,000 boat in February 2017, titling it in his wife’s name to shield it from IRS collection efforts.
He also used business income to pay for marina and yacht club expenses, boat maintenance, and jewelry purchases, all while aware of his outstanding tax obligations.
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The IRS Criminal Investigation division investigated the case and is being prosecuted by Assistant United States Attorney Jay L. Hoffer.
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