MADISON (WKOW) -- An Edgerton business owner has pleaded guilty in U.S. District Court to failing to pay payroll taxes withheld from employees checks.
Gary Auerswald, 61, owner of Full Spectrum Building Components, Inc.pleaded guilty on March 30, 2018, according to Scott C. Blader, United States Attorney for the Western District of Wisconsin,
Full Spectrum withheld payroll taxes from its employees’ payroll checks and was required to deposit these funds with the IRS on a quarterly basis.
At the plea hearing, Auerswald admitted that he failed to pay to the IRS payroll taxes in the amount of $24,482.43 on behalf of Full Spectrum employees for the period of October 1 to December 31, 2014, and instead kept the money for the business.
U.S. District Judge James D. Peterson scheduled sentencing for June 29, 2018. Auerswald faces a maximum penalty of five years in federal prison.
The charge against Auerswald is the result of an investigation by IRS Criminal Investigation. The prosecution of this case is being handled by Special Assistant U.S. Attorney Chadwick Elgersma.
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