WEST LONG BRANCH – A local man was charged with failing to pay taxes on money he got from Denmark.
Officials said Matthew Tucci, 51, of West Long Branch, willfully attempted to evade the payment of his 2015 and 2016 taxes and corruptly endeavored to obstruct the administration of IRS laws.
In 2015 and 2016, Tucci received millions of dollars in income from refunds issued by the Customs and Tax Administration of the Kingdom of Denmark, officials said. He reported that he owed more than $2 million in taxes but didn’t pay them when due.
Instead, he purchased more than $7.6 million worth of real estate and attempted to conceal his assets by engaging in fraudulent transactions. Furthermore, he made false statements to the IRS about collection proceedings and failed to disclose facts about his financial resources.
The count of tax evasion carries a maximum potential penalty of five years in prison and a maximum fine of $250,000. The count of obstructing the administration of IRS laws carries a maximum potential penalty of three years in prison and a maximum fine of $100,000.
Charges are merely accusations until proven in a court of law.
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