Idaho Man Charged For Tax Evasion
A man who owns a bar in Fruitland, Idaho, was recently arrested and charged with four counts of tax evasion, according to The Argus Observer.
Thomas Overstreet, the owner of local bar Club 7, was charged in June for allegedly failing to file income tax returns with the Internal Revenue Service from 2007 to 2010. All four counts are misdemeanors due to the man not falsifying any information, the news source reported. The IRS also alleged Overstreet has not filed a tax return since 1998.
Overstreet's establishment earned more than $600,000 in profits during 2007, 2008 and 2009, according to the news source. The Idaho State Tax Commission gave sales records to the IRS that show the bar earned approximately $429,000 in 2007, close to $412,000 in 2008 and less than $400,000 in 2009 and 2010.
He will report to the U.S. District court in Boise in July, the news source added. The bar is for sale online, and its listed price is $490,000. Overstreet's tenure as bar owner began in 1990.