Peninsula, CA mother and daughter charged with tax evasion

March 17th, 2010 - 12:40 am ICT by BNO News  

SAN FRANCISCO, CALIFORNIA (BNO NEWS) – A mother and daughter of Peninsula, California, were indicted on nine counts of tax evasion, prosecutors announced on Monday.

From 2003 to 2007, Maria Virginia Reyes, 60, and Christine Reyes, 36, willfully attempted to evade and defeat a large part of the income tax due and owing by under-reporting income on their U.S. Individual Income Tax Returns, Forms 1040. Maria Reyes omitted total taxable income of $683,802.00, upon which she owed additional income tax of $193,247.00. Christine Reyes omitted total taxable income of $344,989, upon she owed $88,822 of additional income tax.

The defendants are set to appear on March 25 for trail in San Francisco, California. The maximum penalty for each count of tax evasion is five years in prison and a $250,000 fine.

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