EAST BRUNSWICK – Certified public accountant Amit Govil, 58, of New Brunswick, was charged with allegedly under-reporting more than $650,000 of income on his personal tax returns on Oct. 11.
Govil is charged by indictment with two counts of making and subscribing false tax returns. Govil was charged at his home on Oct. 17, according to a statement from the U.S. Attorney’s Office, District of New Jersey.
According to documents filed in the case and statements made in court, Govil is licensed in New York and New Jersey as a CPA. He operated “Company A,” a business providing risk management and audit services to community banks, headquartered in East Brunswick.
For the tax years 2010 and 2011, Govil allegedly under-reported and failed to report the gross receipts or sales of “Company A” on Schedule C of his personal tax returns, as he was obligated to do. Govil, through “Company A,” earned more than $3.9 million in gross receipts or sales for tax year 2010, and more than $4.3 million in gross receipts or sales for tax year 2011, according to the statement.
Notwithstanding the actual gross receipts or sales that Govil earned through “Company A,” he allegedly reported gross receipts or sales of only $3,352,848 for tax year 2010 and $4,205,175 for tax year 2011, according to the statement.
Each count of making and subscribing false tax returns carries a maximum potential penalty of three years in prison and a $250,000 fine, or twice the gross gain or loss from the offense, according to the statement.
