Angelo Dimeglio admitted to underreporting his taxable income in 2011, court documents show.
NEWARK -- The president of a Belle Mead landscaping business Tuesday admitted to a tax evasion charge that he tried to hide more than $500,000 in income from the Internal Revenue Service.
Angelo Dimeglio of Lawrenceville, the president of Caliper Farms Nursery, pleaded guilty to a charge that he falsified his income tax return for 2011. Prosecutors had charged him with falsifying his returns for other years as well, records show.
He entered his plea before U.S. District Judge Jose Linares.
"As we continue with this year's filing season, today's guilty plea by Mr. Dimeglio should serve as a strong reminder that IRS-Criminal Investigation takes criminal violations of our nation's tax laws very seriously," Jonathan D. Larsen, special agent in charge at the IRS' Newark Field Office, said in a prepared statement.
According to court documents, Dimeglio regularly cashed or deposited customer checks into his personal bank account or accounts controlled by family members. He also wrote checks from the business payable to himself or family members, they said. He then gave false information to his tax preparer, according to the IRS.
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In 2011, court records show, Dimeglio reported taxable income of $25,896 -- failing to report additional income of $520,968 from Caliper Farms. The additional tax due on that income would have been $158,619, according to the IRS.
For the other years for which Dimeglio was charged, the IRS said, he failed to report $1.6 million in additional income, causing a tax loss to the government of $429,898.
The count to which Dimeglio pleaded carries a maximum prison sentence of five years, as well as a fine. As part of his plea deal, Dimeglio also agreed to allow the IRS criminal staff to turn over his file to attorneys to investigate possible civil penalties.
He is scheduled to be sentenced June 11.
Tim Darragh may be reached at tdarragh@njadvancemedia.com. Follow him on Twitter @timdarragh. Find NJ.com on Facebook.