Philip Castracucco, a construction contractor based in Westchester County, New York, has pleaded guilty to filing false U.S. Individual Income Tax Returns. The plea was entered before U.S. District Judge Jessica G. L. Clarke in White Plains federal court.
U.S. Attorney Jay Clayton stated, “As he admitted today in court, Philip Castracucco filed false tax returns that underreported income from his business. Castracucco attempted to avoid paying his full obligation back to the government, one we all collectively share for essential services and infrastructure. He has now pled guilty to a federal crime and faces time in prison. Cheating on your taxes is stealing from your fellow New Yorkers.”
Harry T. Chavis, Jr., Special Agent in Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (IRS-CI), commented on the case: “Philip Castracucco concealed income from the IRS and evaded the payment of taxes, contributing to our nation’s tax gap in the process. With today’s guilty plea, he is being held accountable. This outcome demonstrates the strength of our investigative efforts and our commitment to safeguarding the public from financial misconduct. He now faces the consequences of choosing fraud over compliance.”
According to court documents and statements made during proceedings, Castracucco owned a contracting business known as Company-1 that specialized in masonry projects around Westchester County. From 2017 through 2022, he cashed more than $3.5 million in business receipt checks through a check cashing service instead of depositing them into Company-1’s bank account. The cash was used for payroll—including payments to himself—and other personal and business expenses.
From 2018 through 2023, Castracucco filed S Corporation tax returns (IRS Forms 1120-S) for Company-1 that omitted gross receipts related to these checks and excluded over $1 million in salaries and wages paid by Company-1 to himself and others. Additionally, he caused quarterly employer tax returns (IRS Forms 941) for Company-1 to omit these salary payments.
Between 2020 and 2023, Castracucco also filed personal income tax returns (IRS Forms 1040) omitting more than $900,000 of business income received from Company-1.
Castracucco, age 63 and residing in Tuckahoe, New York, pleaded guilty to one count of making and subscribing to false U.S. Individual Income Tax Returns—a charge carrying a maximum sentence of three years imprisonment as set by Congress; however, sentencing will be determined by Judge Clarke at a later date.
He has agreed to pay restitution to the IRS amounting to no less than $359,646.57 for unpaid taxes resulting from his actions. Sentencing is scheduled for September 9, 2026.
The investigation was conducted by IRS-CI with prosecution led by Assistant U.S. Attorney Jeffrey C. Coffman from the White Plains Division.
