News Summary
Matthew J. Buresh, owner of CR Cable Construction in Lexington, has been sentenced to two years in prison for failing to pay over $800,000 in taxes. U.S. District Judge Karen K. Caldwell highlighted the severity of the offense, requiring Buresh to also pay restitution to the IRS. The case underscores the importance of tax compliance for business owners and the potential legal consequences of neglecting financial obligations.
Lexington Business Owner Sentenced to Two Years for Tax Evasion
Matthew J. Buresh, a 65-year-old owner of CR Cable Construction in Lexington, has been sentenced to two years in prison for failing to pay over $800,000 in required tax withholdings to the federal government. U.S. District Judge Karen K. Caldwell issued the sentence on May 16, emphasizing the seriousness of the offense.
In addition to his prison term, Buresh is required to pay $805,787 to the Internal Revenue Service (IRS) as restitution. The court found that Buresh had an obligation to remit taxes collected from his employees, which included Social Security, Medicare, and income tax withholdings between the years 2017 and 2022. Despite his awareness of these responsibilities, he did not fulfill them, according to court records.
Failing to Remit Taxes
During the specified period, Buresh withdrew approximately $2.9 million from his company for a variety of expenses, including his wages and business operations. However, while he managed to extract significant funds from the company, he neglected to forward mandatory tax payments to the IRS.
Prosecutors stated that Buresh’s decision to withhold tax payments was a willful act rather than an oversight. Assistant U.S. Attorney Brittany Dunn-Pirio noted that the nature of his actions separates them from a simple mistake, reinforcing the deliberate choice of non-compliance. Buresh’s attorney depicted him as a dedicated business owner who encountered financial hurdles, specifically citing impacts from the COVID-19 pandemic and bankruptcies affecting revenue that resulted in a loss of approximately $400,000.
Consequences for Non-Compliance
Buresh will serve 85 percent of his prison sentence, with a subsequent three-year period of supervised release under the U.S. Probation Office. This structured follow-up will monitor his reintegration into society once he completes his prison term, ensuring adherence to legal and financial obligations moving forward.
Background on CR Cable Construction
CR Cable Construction is a business that has operated in Lexington for several years, providing services that typically fall into the domain of cable installation and related projects. As with many small businesses, handling finances accurately is crucial, especially when employees’ taxes are involved. The turned actions of the business owner have brought to light the vital role that compliance plays within the business operations.
Failure to pay taxes can have serious ramifications not just for individual business owners but for their employees and the wider community. As seen in this case, the accountability for remitting these taxes is not merely a suggestion, but a legal requirement that, when ignored, can lead to significant legal penalties, including incarceration.
Overall, the case against Matthew J. Buresh highlights the importance of tax compliance and the severe consequences that can arise from neglecting financial responsibilities. The legal system aims to uphold accountability among business owners, ensuring that they meet their obligations to employees and the government alike.
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Additional Resources
- WTVQ: Lexington Business Owner Sentenced on Tax Evasion
- Wikipedia: Tax Evasion
- WKYT: Lexington Business Owner Sentenced to Prison for Not Paying Taxes
- Google Search: Tax Compliance
- LEX18: Garrard County Distilling Company Halts Production
- Encyclopedia Britannica: Taxation
- Kentucky.com: Local News
- Google News: Kentucky Tax Evasion
Author: STAFF HERE LEXINGTON KY STAFF
The LEXINGTON STAFF WRITER represents the experienced team at HERELexingtonKY.com, your go-to source for actionable local news and information in Lexington, Fayette County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Woodland Art Fair, Crave Food and Music Festival, and Railbird Festival. Our coverage extends to key organizations like Commerce Lexington and Blue Grass Community Foundation, plus leading businesses in education, manufacturing, and technology that power the local economy such as University of Kentucky, Toyota Motor Manufacturing, and Lexmark. As part of the broader HERE network, including HEREBowlingGreen.com and HERELouisville.com, we provide comprehensive, credible insights into Kentucky's dynamic landscape.
