SACRAMENTO, Calif. — Jack Ray Snyder, 63, of Truckee, pleaded guilty today to one count of tax evasion, U.S. Attorney McGregor W. Scott announced.
According to the plea agreement, Snyder failed to report significant income for tax years 2011, 2012, 2013 and 2014. Each year, Snyder underreported his income to his tax preparer and took deductions for expenses that were not deductible business expenses. For the 2011 tax year, Snyder earned outside income as an equine veterinarian in addition to his salary as a professor at the University of California, Davis. He endorsed outside client payment checks to directly pay credit card bills. He failed to report $212,953 in income for the 2011 tax year. According to the plea agreement, the additional tax due for 2011, 2012, 2013, and 2014 tax years was $134,497.
This case is the product of an investigation by the Internal Revenue Service Criminal Investigation. Assistant U.S. Attorney Roger Yang is prosecuting the case.
Snyder is scheduled to be sentenced by U.S. District Judge William B. Shubb on Nov. 16. Snyder faces a maximum statutory penalty of five years in prison and a $100,000 fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.