An Horry County accountant charged with failing to forward customer’s tax money to authorities pleaded guilty Thursday and was sentenced to four years in prison, according to court records.
Richard Wayne Voltz, 56, of Myrtle Beach pleaded guilty Thursday before Circuit Court Judge Larry Hyman to two counts of breach of trust with fraudulent intent with a value of $5,000 or more and failure of tax preparer to pay money to the Department of Revenue from taxpayer, according to court records.
Hyman sentenced Voltz to four years in prison on each charged of breach of trust and three years in prison on the failure to pay tax money. Voltz also must pay court costs. The sentences will run concurrently.
Voltz was charged in May with five counts of failure to remit a tax payment and two counts of income tax evasion, according to a release from the S.C Department of Revenue.
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Voltz had faced five counts of breach of trust and seven counts of failure to pay the taxes, according to records at J. Reuben Long Detention Center, where he was booked in at 12:16 p.m. on Thursday.
State revenue officials said during the 2007, 2008 and 2010 tax years, Voltz, advised clients to pay to the accounting firm with the impression that the money would be forwarded for payment of the clients’ income taxes. Voltz failed to forward the money to taxing authorities and failed to pay over $480,000.
At the time of his arrest, officials said for tax years 2007 and 2008, Voltz failed to report on his individual income tax returns the money he did not send to tax authorities on behalf of his clients. Voltz submitted 2007 and 2008 individual income tax returns showing he had no tax liability. As a result of not reporting the money misappropriated from his clients of $430,738, he evaded the assessment of $28,246 in tax.
Voltz had faced up to $45,000 in fines and 25 years in prison.