Limestone couple sentenced for federal tax evasion
A Limestone, Tennessee couple has received federal sentences after pleading guilty in December to bilking the IRS out of more than $130,000 in taxes.
David and Paula Byrd, 58, placed money earned through their computer software business into Swiss bank accounts and failed to report the income received and the ownership of those accounts to the IRS, according to a report issued by U.S. Attorney Nancy Stallard Harr on Tuesday.
The income was from a 2008 computer programs contract with Lufthansa Airlines during the couple's residency in Frankfurt, Germany, the report said.
David Byrd received a 10-month prison sentence while Paula Byrd was placed on four years probation. Both must pay restitution of $134,359 and fines totaling $10,000, court documents said.