One Mississippi lawmaker has received probation after being issued 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 before pleading guilty as part of a plea agreement in May.
He is now facing two years of probation following a sentencing hearing on Monday, as well as restitution totaling $84,766. Officials have confirmed that Banks has paid the entirety of the restitution at this time.