Women Pleads Guilty For Misinforming IRS
Posted by Ivetta Babadjanian on Dec 11, 2012 - 5:41:49 PM
SANTA MONICA—A 56-year-old Santa Monica woman pleaded guilty on Tuesday, December 11 to a federal tax charge stating that she tried to hide income from the Internal Revenue Service.
Uta Hollingshead. Photo courtesy of Utta Body Sculpture Inc.'s website.
Utta Hollingshead is a massage therapist, personal trainer and owner of Utta Body Sculpture Inc. in Beverly Hills where she has many celebrity and high-net worth clients. "But don’t think it is just any deep tissue massage ”“ not with her magical hands. She has her “stomach stripping” that will pinch fat off the stomach and give you better abs than any sit-ups could do," states Utta Body Sculpture's official website.
She pleaded guilty before United States District Judge Manuel L. Real for one count of subscribing to a false federal income tax return for the 2005 calendar year. Her plea agreement states that for the year 2005, Hollingshead informed the IRS that her business had gross receipts of approximately $122,595.
Federal investigation, however, revealed that her business had gross receipts of over $332,000. Additionally, Hollingshead didn't report business income for the 2006 and 2007 tax years which cost a total of $167,720 tax loss to the government.
She had those checks transferred to her credit card to pay personal expenses such as trips overseas. These payments from clients, including some cash payments, were never deposited in her company's bank account and weren't reported to Hollingshead's tax return preparer.
Due to her guilty plea, Hollingshead may face a maximum of three years in federal prison and receive a fine of at least $250,000. Hollingshead is expected back in court on February 25 for sentencing.
Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.