You've certainly heard of the feud between the Hatfields of West Virginia and the McCoys of Kentucky. Now the Tennessee McCoys have settled a feud with the United States, or more specifically, the IRS. A husband and wife pair have recently please guilty to tax fraud and will likely face jail time as a result.
Here are the details according to the Department of Justice:
According to the indictment, Jeffrey Cephus McCoy Jr., 70, and Andra McCoy, 68, filed 2003 to 2007 income tax returns with the Internal Revenue Service (IRS) that underreported income and claimed fake income tax withholding amounts. The indictment further alleges that the McCoys submitted false documents to the IRS and placed their assets in the names of nominees and in nominee bank accounts.
At the plea hearing, the McCoys admitted that from July 2002 through August 2014, they conspired to defraud the United States by impeding the IRS’s collection of their income taxes. The McCoys further admitted that they filed a 2003 tax return, which falsely reported income tax withholdings of $439,850.
Sentencing dates have not been set. The McCoys face a statutory maximum sentence of five years in prison, a period of supervised release and monetary penalties.
Anyone facing a similar situation regarding tax fraud charges should speak with a tax lawyer. With offices in Cleveland and Chicago, that have represented clients in approximately 45 states and 15 countries, the tax attorneys of Robert J. Fedor, Esq. LLC are experienced in criminal tax defense matters.
