By now, you may have heard about the scandal enveloping Jesse Jackson, Jr., the son of the famous civil rights leader. Recently, Jackson, a former U.S. Representative from the state of Illinois, pleaded guilty in federal court to helping himself to $750,000 in campaign funds, which he used to purchase everything from vitamins and toilet paper to fur coats and Rolex watches.
What's less-well-known about this story is that Jackson's wife, Sandi, also copped a guilty plea—in her case, to filing fraudulent federal tax returns during the years the couple were living on donors' contributions (Sandi Jackson waived her right to a trial, and awaits sentencing for her crime). How much malfeasance did Jesse Jackson, Jr.'s spouse attempt to sweep under the IRS carpet? To quote from the story by the Christian Science Monitor:
“Prosecutors stated in court documents that Jackson diverted campaign funds by directly withdrawing cash, using campaign credit cards for purchases, and diverting campaign money to at least four congressional staff members so they could make purchases for themselves...the Jacksons bought items from outlets including Best Buy, Build-a-Bear, Ticketmaster, and Costco. The more expensive items, such as $5,150 in fur capes and parkas from Edward Lowell Furrier in Beverly Hills, Calif., and at least $50,000 in Martin Luther King Jr., Bruce Lee, Michael Jackson, and Jimi Hendrix memorabilia from Antiquities of Nevada in Las Vegas."
As for Jackson himself, he has claimed that he suffered from depression during the time of his transgression, and he faces up to five years in jail and a $100,000 fine (in addition to having to pay back the misappropriated funds.)
Are you an Oklahoma resident who is in trouble with the IRS? Don't delay; call the tax experts at Travis W. Watkins, PC (800-721-7054) to find out what they can do for you!