Feds charge Rep. Earle Banks for allegedly evading payment of federal income taxes

HINDS CO., Miss. (WLBT) - Mississippi Representative Earle Banks is facing federal criminal charges after allegedly evading payment of federal income taxes.

Court documents say Rep. Banks reported $38,237 in income on his 2018 federal tax returns even though he allegedly received more than $500,000 in additional income in August of 2018 from profits from the sale of real estate.

Rob McDuff, a Jackson attorney representing Banks, says that his client made a mistake on his tax return in 2018 and failed to include capital gain. McDuff went on to say that they “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.”

Rep. Banks was released on a $10,000 unsecured bond. A change of plea hearing has been set for May 17 at 2 p.m.

According to court documents, Banks could face a maximum penalty of three years in prison, a $250,000 fine, and one year of supervised release.

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