BOONE COUNTY, KY (FOX19) - A Boone County man has been sentenced to 24 months in prison for not paying his federal income tax.
William Shehan, 45, has also been ordered to pay $2.4 million in restitution. He was sentenced on the charge of Income Tax Evasion.
From 1995 until 2001, Shehan did not file his federal income tax forms and diverted the money that should have been paid in taxes to private business ventures and trusts. The trusts were found improper by the IRS in an audit. They found that Shehan owned around $2.1 million including interest and penalties.
In May of 2003 he acknowledged that he owned taxes but in 2004 Shehan filed inaccurate information with the IRS in an attempt to settle his debt. He failed to his tax liability.
Shehan will have to serve at least 85 percent of his prison sentence and 3 years of supervised release.