Once again, it’s tax evasion that will send someone to prison every time, and in Michael Cohen’s case, brought by Federal Prosecutors in New York, it’s no different for the former lawyer of President Trump. Cohen was sentenced to 36 months in prison, which in part was for five counts of tax evasion.
The tax evasion charges stem from his failure to report income earned from his taxi fleets in New York and Chicago on his 2012-2016 income tax returns totaling over $4 million. In addition, Cohen failed to report $100,000 he made selling property in Ocala, FL in 2014, a $30,000 profit he earned for arranging the sale of a couture Birkin handbag and $200,000 in consulting fees he made from an assisted-living company.
In addition to jail time, as part of his plea deal, Cohen has agreed to pay restitution to the Internal Revenue Service in the amount of $1.5 million.