A Connecticut-based accountant has pleaded guilty in federal court to tax evasion after failing to report about $1.3 million in income.
Edward J. Sodlosky, 71, of Middlebury waived his right to be indicted and pleaded guilty on Thursday in federal court in New Haven, according to the U.S. Attorney’s Office for the District of Connecticut.
Federal officials said Sodlosky, a self-employed certified public accountant, owned and operated Edward J. Sodlosky, a Certified Public Accountant firm in Naugatuck. Between 2016 and 2022, Sodlosky prepared and filed annual joint income tax returns with the IRS on behalf of himself and his spouse. He also filed annual partnership income tax returns for an entity named FinGLTD, which he owned with his spouse, officials said.
Over the course of seven years, Sodlosky cashed more than 2,000 client payment checks to hide income generated by EJS-CPA, officials said. This led to a “substantial amount” of EJS-CPA’s business receipts being diverted from the entity’s bank accounts and not reported in his tax returns, according to authorities.
“Sodlosky deposited funds derived from the cashed checks, as well as client payment checks to EJS-CPA, into a network of business, personal, and nominee accounts,” the U.S. Attorney’s Office wrote in a statement. “He maintained, controlled, and used 15 different bank accounts to deposit business receipts and to evade income taxes.”
According to officials, Sodlosky failed to report about $1.3 million in additional income, resulting in a tax loss to the government of $422,720.
Sodlosky is free on a $50,000 bond and is scheduled to be sentenced by U.S. District Judge Sarala V. Nagala in Hartford on April 15, 2026. He faces a maximum of five years in prison and will be required to pay restitution to the IRS, officials said.