Naugatuck-Based CPA Gets Prison Time For Tax Evasion

A Naugatuck-based certified public accountant was sentenced Wednesday to three months in prison for tax evasion.

U.S. District Judge Victor A. Bolden imposed the sentence on Edward J. Sodlosky, 72, of Middlebury during a proceeding in New Haven.

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After Sodlosky serves the sentence, he will be on supervised release for one year. Bolden also ordered Sodlosky to pay a $50,000 fine.

Sodlosky pleaded guilty to tax evasion in November 2025. He must report to prison on May 27.

Sodlosky owned and operated the business, Edward J. Sodlosky, Certified Public Accountant, in Naugatuck.

Between 2016 and 2022, Sodlosky prepared and filed annual joint income tax returns with the Internal Revenue Service on behalf of himself and his spouse. He also filed annual partnership income tax returns for an entity named FinGLTD, which he co-owned with his spouse, according to the U.S. Attorney’s office.

Prosecutors said Sodlosky cashed more than 2,000 client payment checks to hide income generated by his Naugatuck accounting business.

As a result, “a substantial amount” of the accounting business’ receipts were diverted from the business’ bank accounts and not reported in tax returns, prosecutors said.

Sodlosky deposited funds from the cashed checks, as well as client payment checks to his accounting business, into a network of business, personal, and nominee accounts, according to the government. Prosecutors said he maintained, controlled, and used 15 different bank accounts to deposit business receipts and evade income taxes.

Sodlosky failed to report almost $1.4 million in income to the IRS, resulting in a tax loss to the government of $422,720, according to the U.S. Attorney’s office. Sodlosky has since paid the IRS the $422,720, but he still owes interest and penalties, prosecutors said.

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Naugatuck-Based CPA Pleads Guilty To Tax Evasion: Feds