A Florida real estate agent self-dubbed the “Land Man” was found guilty by a federal judge of five counts of willfully failing to file his income tax returns during a five-year period.
Sedita Charles Cayson is accused of having a history of not filing income taxes, with assessed liens for his federal income tax delinquencies for years 2004-2007 and 2011-2013. In the case that led to his conviction, Cayson intentionally failed to file his income tax returns for tax years 2017-2021, a period when he earned real estate sales commissions averaging over $150,000 per year.
Furthermore, since 2017 Cayson instructed his real estate broker to split his commission checks into amounts that were less than $10,000, the majority of which Cayson cashed at the bank immediately upon receiving them.
The guilty verdict returned at the conclusion of a day-and-a-half bench trial. Sentencing is scheduled for Feb. 24, 2025, and Cayson faces up to one year in federal prison and a $25,000 fine for each count, followed by a term of up to one year of supervised release.
What a moron. Did he not realize that his brokerage would submit 1099s no matter what amount each check was for guaranteeing he would be caught for not filing? There are many ways he could have fudged his expenses to pay less tax but at least freaking file a return. SMH.
Did the broker face penalties as well? He obviously knew what the agent was up to.
The broker is a moron too. There are many realtors that do this so maybe they will crackdown on more of them.