Nanny Tax Evasion: Sentencing

Richard Josephberg, the former NY investment banker, was sentenced to 50 months in Federal prison for nearly 3 decades of tax evasion, including the first ever conviction for failure to pay the so-called "nanny taxes", the payroll taxes associated with the wages he paid his nanny and housekeeper. (See earlier posting)

Nanny Tax Evasion Conviction

A former Armonk, NY investment banker, Richard Josephberg, was convicted of 21 counts of tax evasion on April 19, 2007, including an "Nanny Tax" evasion count alleging that Josephberg paid his housekeeper and nanny in cash to avoid filing the required tax reports and paying Social Security and Medicare taxes for them. Sentencing is scheduled for July 19, 2007.

US Attorney's Press Release.