A California veterinarian pleaded guilty to one count of tax evasion.
According to court records, Jack Ray Snyder, 63, of Truckee, California, failed to report significant income for tax years 2011 through 2014. Each year, Snyder underreported his income to his tax preparer and took deductions for expenses that were not deductible business expenses.
For the 2011 tax year, Snyder earned outside income as an equine veterinarian in addition to his salary as a professor at the University of California, Davis. He endorsed outside client payment checks to directly pay credit card bills. He failed to report $212,953 in income for the 2011 tax year.
According to the plea agreement, the additional tax due for the tax years was $134,497. Snyder faces up to five years in prison and a $100,000 fine.