URBANA, Ill. (WAND) - A Charleston man accused of failing to pay federal employment taxes and personal income taxes faces 21 charges of tax fraud.Â
As the person responsible for the business of Financial Logic Inc., prosecutors said Jay Fisher was obligated to file Form 951 and remit employment taxes for employees. Employment taxes include federal income tax, social security and Medicare taxes.Â
The indictment against Fisher said he failed to pay over $300,000 in employment taxes between 2015 and 2018. He'a also accused of failing to file and pay individual income taxes between 2014 and 2018.Â
Fisher faces the tax fraud charges after an indictment by a federal grand jury was returned Monday. Each of the sixteen counts of failure to pay employment taxes against Fisher carries a maximum penalty of five years in prison, as much as $10,000 in fines, or both, should he be found guilty. For each of five charges of failure to pay individual income tax, Fisher could face as much as one year in prison, up to $25,000 in fines, or both.
He is scheduled to make an initial appearance in federal court at 10:30 a.m. on April 19. The hearing will happen via video conference in Urbana before U.S. Magistrate Judge Eric I. Long.Â
The charges were investigated by the IRS Criminal Investigation Division with help from the Illinois Department of Revenue. The government is represented in prosecution by Assistant U.S. Attorney Melissa Moody.Â
