East Brunswick Business Owner Arrested, Charged With Tax Fraud

EAST BRUNSWICK, NJ — An accountant who lives in New Brunswick, but ran his business in East Brunswick was arrested Thursday and charged with allegedly underreporting more than $650,000 of income on his personal tax returns, U.S. Attorney Craig Carpenito announced.

Amit Govil, 58, of New Brunswick, is charged by indictment with two counts of making and subscribing false tax returns. Govil was arrested earlier today at his home; he was scheduled to appear before U.S. Magistrate Judge Michael A. Hammer in Newark federal court.

Govil is licensed in New York and New Jersey as a CPA. He operated a sole proprietorship referred to in the indictment as “Company A,” a business that provided risk management and audit services to community banks, and is headquartered in East Brunswick, New Jersey.

However, Govil himself said this is related to a "decade-old" dispute he's had with the IRS.

“I have a personal tax dispute with the IRS that has been ongoing now for over three years," he said in a statement. "Unfortunately, the IRS has decided to move forward with the case in light of the expiration of the statute of limitations. I am confident in my position and look forward to putting this decade-old matter behind me as soon as possible."

Prosecutors charge that for the tax years 2010 and 2011, Govil underreported and failed to report the gross receipts or sales of Company A on Schedule C of his personal tax returns, as he was obligated to do. Govil, through Company A, earned more than $3.9 million in gross receipts or sales for tax year 2010, and more than $4.3 million in gross receipts or sales for tax year 2011. Notwithstanding the actual gross receipts or sales that Govil earned through Company A, he reported gross receipts or sales of only $3,352,848 for tax year 2010, and $4,205,175 for tax year 2011.

He is facing up to three years in prison and substantial fines.

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