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A former Illinois lawyer allegedly withheld more than $137,000 in payroll taxes from his employees’ paychecks but failed to remit the money to the IRS.
Adam Tracy, 43, of Wheaton, Illinois, is charged with one count of willful failure to pay taxes to the IRS.
According to court records, Tracy operated Securities Compliance Group, a law and consulting practice that also did business as “Clearing Link LLC,” “Wabash Capital Advisors Ltd.,” “Guanwei Recycling Corporation,” and “The Tracy Firm. Ltd.” From 2014 to 2018, Tracy’s company withheld $137,403.76 in payroll taxes from paychecks but willfully failed to pay the money to the IRS, the government alleges.
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