Former Park Rapids attorney sentenced to a year in prison for tax evasion
Former Park Rapids attorney Bill Jones will spend a year in prison for filing a false tax return.
Jones, 56, was sentenced Dec. 4 in U.S. District Court in St. Paul.
His sentence was the result of a plea agreement, in which Jones admitted to filing a tax return for 2001 that falsely characterized three property transactions that would have exempted him from paying capital gains taxes.
The court found Jones was liable for an additional $90,000 in unpaid taxes for the 2001 year. He admitted to characterizing the transactions as "like-kind" transfers, in which any profits would not have been subject to taxation. He filed the 2001 tax return April 15, 2002.
Jones was charged in March. He will serve 12 months and one day in prison, and be on supervised release for one year.