An Orlando loan officer is facing up to five years in prison after admitting to evading federal income taxes on over $750,000 in wages that he earned over a 3-year span.
On Thursday, May 25, Jeffrey Donaldson pled guilty to evading federal income taxes on wages he earned between 2015 and 2018, according to a statement issued by the U.S. Attorney’s Office for the Middle District of Florida.
Donaldson worked as a loan originator at Movement Mortgage, LLC and as a branch manager at CrossCountry Mortgage, LLC in Lake Mary for several years. During his time with the companies, he made over $750,000 in wages during the specified time period.
During his employment with the companies, Donaldson submitted falsified W-4 forms (employee withholding certificates) that claimed he was exempt from any federal income tax withholding.
During the same period, Donaldson did not file personal tax returns even though he earned enough income. As a result, Donaldson caused a tax loss of over $150,000 to the Internal Revenue Service.
Donaldson will be sentenced at a later date, but faces a maximum penalty of five years in prison, a period of supervised release, restitution, and monetary penalties.