Hardin County Businessman Sentenced For Federal Tax Violations

BEAUMONT, April 8, 2015 – A 64-year-old Silsbee, Texas, man has been sentenced for federal income tax violations, announced U.S. Attorney John M. Bales today.

Billy Dan Peavy pleaded guilty on Oct. 28, 2014 to two counts of filing false income tax returns and one count of aiding and abetting in the preparation and filing of a false corporation income tax return. Peavy was sentenced on Apr. 7, 2015 to 12 months and one day in federal prison by U.S. District Judge Thad Heartfield.

According to information presented in court, Peavy filed false 2007 and 2008 Form 1040 Individual Income Tax Returns. These returns were false because he knew that he didn’t report all of the income from Beech Creek Disposal, Inc. (also known as NBC Disposal, Inc) and Caneyhead Construction, Inc. on these returns. Peavy also pleaded guilty to one count of aiding in the preparation of a false Form 1120 Corporation Income Tax Return for 2008 for Beech Creek Disposal, Inc. The return was false because the gross receipts did not include all of the income from Beech Creek Disposal, Inc (also known as NBC Disposal, Inc.).

As a part of the plea agreement with the government, Peavy agreed to pay $351,766 in restitution, representing the amount of taxes to which the IRS was entitled. He also agreed to pay civil penalties and interest which will amount to more than $100,000. Peavy was also ordered to pay a fine of $5,000. Peavy was ordered to surrender on May 26, 2015 to begin serving his prison sentence.

In an effort to show extraordinary acceptance of responsibility, Peavy paid in full all of the restitution owed prior to the sentencing date. He also submitted numerous letters of support to the Court for his service in the community and elsewhere.

This case was investigated by IRS Criminal Investigation and prosecuted by Assistant U.S. Attorney Randall Fluke.

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