ALPINE, Texas (Nexstar) – Today, a former businessman in Monahans pleaded guilty to 12 counts of failure to pay withholding taxes.
According to the IRS, withholding taxes is the amount of an employee’s pay withheld by the employer and sent directly to the government as partial payment of income tax.
In a recent press release by the U.S Attorney’s Office Western District of Texas, George Wayne Johnson owner of Wayne’s Welding Services in Monahans, withheld tax payments from its employees’ paychecks but failed to pay $1,308,797 in required payroll tax to the IRS from 2015 to 2018.
According to the press release, Johnson will spend a maximum penalty of five years in prison for each count of failure to pay withholding taxes.
A sentencing date is underway as the IRS investigates the case.