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Horry County accountant arrested for tax evasion

 

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Public Affairs Office
Samantha Cheek
CheekS@sctax.org
(803) 898-5281

FOR IMMEDIATE RELEASE
May 18, 2012

Horry County accountant arrested for tax evasion

Myrtle Beach, SC --- Richard Wayne Voltz, Jr., a local Certified Public Accountant, was arrested today by SC Department of Revenue investigators for five counts of failure to remit a tax payment and two counts of income tax evasion. The Horry County Sheriff’s Office assisted with the arrest.

During the 2007, 2008 and 2010 tax years, Voltz, advised clients to remit monies to the accounting firm with the impression that the monies would be forwarded for payment of the clients’ income taxes. Voltz failed to forward the monies to taxing authorities and therefore knowingly failed to pay over $480,000.

For tax years 2007 and 2008, Voltz failed to report on his individual income tax returns the monies he failed to forward to the taxing authorities on behalf of his clients.  Voltz submitted 2007 and 2008 individual income tax returns showing he had no tax liability.  By filing returns and not reporting this income, Voltz submitted fraudulent individual income tax returns. As a result of not reporting the monies misappropriated from his clients of $ 430,738, he evaded the assessment of $28,246 in tax.

Voltz, 55, is currently being held at the J. Reuben Long Detention Center in Conway where he is awaiting a bond hearing. If convicted of all seven charges, he could face penalties of up to $45,000 in fines and/or 25 years in prison.

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