A Mississippi State Representative has pleaded guilty to willfully making a false material statement on a federal income tax return.

Earle S. Banks Sr., 68, pleaded guilty Wednesday in U.S. District Court in Jackson.  According to admissions by Banks, he failed to report more than $500,000 of income resulting from the sale of real property. Banks admitted that he was aware of his legal duty to report that income, and instead willfully failed to report that income to the IRS on a 2018 Form 1040X tax return. Banks also admitted that the United States Attorney’s Office has sufficient evidence to convict him at trial if he had decided to go to trial instead of pleading guilty.

It is against federal law to intentionally file false income tax returns which deliberately report less income than a person actually received.

Banks is scheduled to be sentenced on Aug. 21, 2023 and faces a maximum penalty of three years in prison. A federal district judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

The IRS is investigating the case.