A former businessman in Iowa has been given prison time for withholding employment taxes.
U.S. Attorney Sean R. Berry said in a news release Wednesday that 46-year-old Eric Holub was sentenced to more than two years in prison for withholding $460,000 in federal taxes.
Prosecutors say Holub, who owned a private security business in Cedar Rapids, did not forward federal employment taxes to the Internal Revenue Service. He pleaded guilty in July to one count of failing to pay the IRS the required money.
As part of a plea deal, Holub admitted to withholding the money for six calendar quarters in 2008 and 2009. He also admitted to not paying the IRS other taxes owed by the company between 2008 and 2011.