Former executives of Bank of Durango in Colorado pleaded guilty to tax evasion charges.

Cheryl McMillan, 56, and Marion McMillan, 61, husband and wife residing in Kansas, submitted their plea in Denver.

The tax evasion took place when Marion McMillan was the president of the Bank of Durango, and Cheryl McMillan was the vice president and chief cashier of the Bank of Durango.

According to the stipulated facts in the plea agreements, for tax year 2003, there was $102,731.15 in undeclared income as a result of embezzlements by Cheryl McMillan from the Bank of Durango.  For tax year 2004, there was $125,169.14 in undeclared income as a result of Cheryl McMillan’s embezzlements from the Bank of Durango.

The couple face up to five years in prison and a fine of up to $100,000.

No one wants to go to prison for five years or be fined $100,000.  Tax relief is available through our Tax Resolution Specialists.  Tax Resolution Services has a tax relief success rate of 90%!  Whether you are in Colorado or any of the 50 states, you can receive a free tax consultation on the Tax Resolution Services website.

More Tax Help, IRS News and Tax Relief Tips:

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This entry was posted on Thursday, June 11th, 2009 at 8:40 pm and is filed under IRS Tax Cases, IRS Times and Inquirer. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.