United States Attorney Joe Kelly announced today that Vincent J. Palermo, 46, of Omaha, Nebraska, entered a plea of guilty before Senior United States District Judge Laurie Smith Camp to three counts of willful failure to file income tax returns for the 2012, 2013, and 2014 tax years. Each count calls for a maximum penalty of up to one year in prison, a $100,000 fine, a one-year term of supervised release, and a $25 special assessment.
Palermo, an Omaha City Council member, pleaded guilty to an Information which alleged that he willfully failed to file federal income tax returns, commonly referred to as Form 1040, for the 2012, 2013 and 2014 tax years, even though he received gross income in those years of $145,434, $220,400, and $129,612, respectively. Palermo admitted in court that he failed to file returns within the time required by law. The court ordered a pre-sentence report and scheduled sentencing for December 9, 2019, at 1:30 p.m.
“Mr. Palermo should have been more aware of his own financial obligations. This wasn’t an oversight or mistake. This was the willful intentional act of not filing federal tax returns as required under the law,” said Karl Stiften, Special Agent in Charge of IRS Criminal Investigation.
This case was investigated by Internal Revenue Service, Criminal Investigation.
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