WAYNE COUNTY, W.Va. (WSAZ) -- A federal grand jury has indicted a Wayne County couple for failing to pay employment taxes.
The US Attorney's Office says Michael and Jeanette Taylor were indicted on one count of conspiracy to defraud the United States by impeding the IRS in the collection of employment taxes withheld from the wages of the employees of their businesses.
The couple owns Taylor Contracting/Taylor Ready-Mix LLC and Bluegrass Aggregates LLC.
According to the indictment, the couple is responsible for accounting for and paying the IRS federal income, social security and Medicare taxes withheld from the wages of their employees.
From 2007 to 2009, investigators say the couple withheld more than $1 million in payroll taxes from the Taylor Contracting company.
And in 2010, they are accused of withholding $161,000 in payroll taxes from the employees of Bluegrass Aggregates.
However, investigators say they failed to fully pay over the taxes to the IRS and instead used the money for personal benefit. Investigators say they used the money to make payments towards personal credit cards and a horse farm.
The couple is also charged with one count of willfully failing to truthfully account for and pay over employment tax withheld for their employees at Taylor Contracting/Taylor Ready-Mix LLC.
If convicted, the Taylors faces a maximum of five years in prison and a $250,000 fine for each count.