An Illinois man was charged with 21 counts of tax fraud for allegedly failing to report and pay federal employment taxes and personal income taxes.
According to court records, Jay Fisher, of Charleston, Illinois, was responsible for the business of Financial Logic Inc., and, as such, was obligated to file a Form 941 and remit employment taxes for his employees. Employment taxes are comprised of federal income tax, Social Security, and Medicare taxes.
Between 2015 and 2018, Fisher allegedly failed to pay more than $300,000 in employment taxes and allegedly failed to file and pay his individual income taxes
If convicted, Fisher faces up to five years in prison and up to $100,000 in fines.