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Mississippi lawmaker Earle Banks arrested for falsely reporting gross income tax

Photo courtesy of the Mississippi House of Representatives

One Mississippi lawmaker is facing federal criminal charges for allegedly submitting false tax information and evading paying federal income taxes five years ago.

According to court documents, Representative Earle Banks, D-Jackson, reported that his adjusted gross income was $38,237 on his federal tax returns in August of 2018, while simultaneously receiving over $500,000 in profits from real estate sales.

“Mr. Banks made a mistake on his tax return in 2018 and failed to include a capital gain,” Banks’ attorney, Rob McDuff, said in a statement. “We have cooperated with the IRS and the U.S. Attorney’s Office as they have looked into this matter, and we will continue that cooperation in moving toward a final resolution.”

Banks, who has been in the House of Representatives for three decades, was released on a $10,000 bond and is scheduled to appear in court for a change of plea hearing next week.

If found guilty, Banks could face up to three years in prison, a fine of $250,000, and one year of supervised release for his charges.

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