Virginia construction company owner pleads guilty in false tax returns case

A Hillsville construction company owner faces prison time for filing false tax returns.

According to court documents and statements made in court, Timothy Agnew, the owner and operator at Red Hill Construction, filed false personal tax returns that substantially underreported his gross receipts, and thus his income, for the 2017-2021 tax years.

Agnew omitted more than $2 million in gross receipts earned from construction projects for which the customers did not directly report those payments to the IRS, through IRS Form 1099.

In all, Agnew caused a tax loss to the IRS of over $375,000.

Agnew is scheduled to be sentenced on April 3.