North Carolina Man Goes to Great Lengths Not to Pay IRS

Billy Floyd, of Monroe, NC was indicted on charges of interfering with the due administration of the Internal Revenue laws and filing false tax returns.

It was alleged that Floyd filed amended tax returns for the years 2000-2002 showing his tax liability reduced to zero. In 2010 he again filed amended returns but included the tax year 2003, all reduced to zero.

The returns were not accepted by the IRS and Floyd was required to pay his tax liabilities.  Floyd submitted fake “Surety Bonds” to the IRS in the amount of $500,000.  Although Surety Bonds are real, they are not accepted as a legal way to pay taxes.

Floyd then filed a civil suit against the IRS claiming that income tax is illegal.  The case was dismissed by the court.

During that time, the IRS seized Floyd’s property. At the public sale of the property, Floyd told potential buyers that the sale was illegal and they would not receive clear title. He also threatened to sue anyone who purchased the property. The property was not sold at the auction, so in another attempt to stop another pending sale, Floyd filed bogus liens on the property.

Floyd’s trial is pending, but he faces a statutory maximum of 3 years in prison for each of the 6 counts of the indictment plus monetary penalties.