Sometimes the reality of having to pay taxes each year hits celebrities harder than they think. Reality television stars Todd and Julie Chrisley could be facing up to 30 years in prison if they are convicted of the several financial charges they’ve been indicted on. Todd and Julie have been indicted by the U.S Attorney for 11 criminal counts that include tax evasion, wire fraud, bank fraud and conspiracy to defraud the U.S. Both have pleaded not guilty to the charges and claim the charges stemmed from false allegations made by a former employee. The reality tv stars entered the pleas during their initial court appearance and were released on a $100,000 bond. They were ordered to surrender their passports and are not allowed to travel outside parts of Georgia and Tennessee without letting their probation officers know. The Chrisley’s accountant was also indicted on tax-related offenses.
According to prosecutors, the couple obtained millions of dollars in loans by providing banks with phony personal financial statements and fabricated bank statements. They also say the Chrisley’s did not file any income tax returns or pay federal income taxes in a timely way from 2013 to 2016.
The couple are the stars of “Chrisley Knows Best,” a reality tv series that follows the family’s over the top lifestyle. Todd Chrisley released a statement on his Instagram denying any wrongdoing and alleged a former employee was stealing from them and had created false documents that the employee turned into investigators. Todd claimed that the employee did “all kinds of really bad stuff like creating phony documents, forging our signatures and threatening other employees with violence if they said anything..” Authorities say the former employee is identified in the indictment as a “Co-conspirator”. It has been reported that the charges stem from when the family lived in the Atlanta suburbs.
The best way to avoid any type of tax trouble is to file your tax return each year, make sure everything on your tax return is accurate and truthful and pay your taxes when they are due. Not paying or not filing can lead to larger amounts of tax debt and put you in a hard spot with the IRS. If you need tax help, don’t try to wait it out, get the help you need. Polston Tax can help you achieve an affordable resolution with the IRS. Give us a call at 844-841-9857 or click below to schedule your free consultation.