CHATHAM, NJ (Morris County) – A Morris County man and former general counsel for Moody’s admitted willfully failing to file federal income tax returns, according to U.S. Attorney Philip R. Sellinger.
John Goggins, 63, of Chatham pleaded guilty before U.S. Magistrate Judge André M. Espinosa in Newark federal court on April 25 to four counts of willfully failing to file federal income tax returns for tax years 2018 through 2021, Sellinger said.
According to documents filed in this case and statements made in court, Goggins was a former senior vice-president and general counsel of a large publicly traded corporation.
For the years 2018 through 2021, Goggins earned total gross income of $54 million from wages, restricted stock awards, the exercise of annual nonqualified stock options, interest, dividends, and gains from stock sales. Goggins failed to file federal income tax returns for those years.
The willful failure to file tax returns charges each carry a maximum potential penalty of one year in prison and a $100,000 fine, or twice the gross gain or loss from the offense. Any prison sentence imposed on Counts One through Four may run consecutively to each other.
Goggins is scheduled to be sentenced on Sept. 6.
“Mr. Goggins deeply regrets and has accepted full responsibility for his failure to file certain personal income tax returns. This is a personal matter that has nothing to do with his work. Mr. Goggins has paid the outstanding taxes, interest, and penalties due in connection with his misdemeanor offenses and looks forward to putting this situation behind him. He has been working with tax professionals to ensure that he remains in full compliance with his tax obligations,”a spokesperson for Goggins told RNJ.
