JACKSONVILLE, Fla. — A federal grand jury in Jacksonville returned an indictment on January 29, charging Florida businessman Phillip Mak with tax evasion, failure to file tax returns, and failure to pay taxes. The U.S. Attorney’s Office for the Middle District of Florida announced the charges today.
Mak, a self-employed businessman based in Jacksonville, allegedly earned approximately $10.3 million between 2008 and 2020. However, during this period, he failed to pay federal taxes and, with the exception of two years, did not file his tax returns.
According to the indictment, the Internal Revenue Service (IRS) assessed around $1.9 million in outstanding taxes, penalties, and interest for the tax years 2008, 2009, 2012-2015, and 2019-2020.
In an effort to evade paying taxes, Mak allegedly attempted to hide his assets by transferring $1 million in cash to his domestic partner’s bank accounts. Following an interview with IRS investigators, Mak is also accused of transferring the ownership of his home to his partner’s trust. He further created a nominee entity and began depositing his income into a bank account under that entity’s name.
As a result of these actions, the U.S. Attorney’s Office states that Mak caused a tax loss of over $1.92 million.
If convicted, Mak faces a maximum sentence of five years in prison for tax evasion and up to one year in prison for each charge of failure to file a tax return and failure to pay taxes.
An indictment is only an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
