A Billings couple has agreed to plead guilty in federal court to two counts of underpaying their taxes by nearly $320,000 in 2015 and 2016, according to court documents.
James and Timilynn Kisling, who own multiple businesses in Billings, were charged last Thursday with two counts of tax evasion in U.S. District Court in Billings.
Prosecutors said the couple underreported their income for those two years and paid $88,909 in taxes in 2015 and $59,089 in 2016, for a total of $147,998. Prosecutors said they should have paid nearly $500,000 in taxes over those two years.
The Kislings own a homebuilding business, Kisling Quality Builders, and are part owners of the High Horse Saloon on Montana Avenue. Timilynn Kisling also works as a real-estate agent in Billings.
Each count carries a maximum penalty of five years in prison, a $100,000 fine and three years supervised release.
As part of the plea agreement, signed last week, the Kislings must pay $678,755 in restitution, which includes back taxes and mandatory penalties and late fees.
A sentencing date has not been set by Judge Susan P. Watters.