Owner of Memphis bail bonding company accused of tax evasion
MEMPHIS, Tenn. (WMC) - The owner of a bail bonding company in Memphis is accused of tax evasion.
According to the affidavit, Terrence Moss, 47, is charged with willful attempt to evade or defeat bond tax.
The affidavit says Moss was the proprietor of Ace Bonding Company of Memphis.
Bonding companies are required to register with the department of revenue for the $12 that’s required to be collected for bonds to be valid. Investigators say no registration was found for Ace Bonding Company in the department of revenue records.
In May 2016, a special agent disguised as a potential customer contacted Ace Bonding by telephone to inquire what the business would charge to bail someone out of jail if their bond was $1,000. The affidavit says an individual claiming to be Moss said it would cost $137. Moss then stated the $37 was like a tax.
A former employee of the bonding company was interviewed by agents and said that she would collect a 10 percent premium, $25 administration fee, and $12 bond tax. The employee said that only Moss or the secretary prepared receipts for the money collected.
Records from the Shelby County Courts showed that Ace Bonding wrote bail bonds from November 2012 through December 2015. Records show that from the fourth quarter of 2012 through the first quarter of 2015, the company wrote $1,054 bonds, equaling $12,648 ($1,054 x $12) in bail bond tax collected, but there is no record of the company ever having file a bail bond tax return or remitting any bail bond tax to the department of revenue.
The affidavit says evidence shows there is probable cause to believe that Moss knew of his obligation to collect the tax and that he took control of the collected money without remitting it to the State of Tennessee.
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