Florida loan officer earning $750K pleads guilty to tax evasion

FLORIDA — A man from Florida has admitted to a charge of intentionally avoiding payment of his federal income taxes, said the U.S. Attorney’s Office for the Middle District of Florida (USAO).

According to court documents and statements made in court, between 2015 and 2018, Jeffrey Donaldson of Orlando worked as a loan officer for two mortgage companies and made over $750,000 in wages. However, Donaldson reportedly submitted false employee withholding certificates (Forms W-4) to both of his employers, claiming he was exempt from federal income tax withholding.

In addition, he allegedly failed to file personal tax returns despite earning enough income to require it. As a result, Donaldson caused a tax loss of over $150,000 to the IRS., said the USAO.

Donaldson will be sentenced at a later date and could face up to five years in prison, as well as supervised release, restitution, and monetary penalties. The final sentence will be determined by a federal district court judge, who will consider the U.S. Sentencing Guidelines and other legal factors.

Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division, U.S. Attorney Roger B. Handberg for the Middle District of Florida and Special Agent in Charge Brian Payne of IRS-Criminal Investigation Tampa Field Office made the announcement.

IRS-Criminal Investigation is investigating the case.

Trial Attorneys Isaiah Boyd and Brian Flanagan of the Justice Department’s Tax Division and Assistant U.S. Attorney Terry Livanos for the Middle District of Florida are prosecuting the case.