A Billings couple has been charged with tax evasion.
James and Timilynn Kisling have agreed to plead guilty to two counts of tax evasion in U.S. District Court. The two underreported their income for tax years 2014 and 2015, resulting in a loss to the federal government of $320,102, according to information filed Thursday by the U.S. Attorney’s Office.
Under plea agreements filed alongside the charges, the Kislings have agreed to plead guilty to both counts and pay $678,755.77 in restitution, which includes mandatory penalties and interest.
Each count of tax evasion carries a maximum penalty of five years in prison and a $100,000 fine.
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The Kislings own Kisling Quality Builders, a home construction company. Timilynn Kisling is a licensed real estate agent, and the couple also has an interest in two Billings bars.
According to federal prosecutors, the Kislings received a loan extension from Rocky Mountain Bank loan officer Stephen Casher in 2016, and Casher did not inform the bank he had already invested privately in the Kislings' businesses.
Casher is now charged with bank fraud for approving the loan extension and for waiving certain conditions. He has pleaded not guilty to that charge, and to 13 other criminal counts. The Kisling loan has been repaid, according to Casher attorney Mark Parker.
Casher and James Kisling are both listed as principals on the limited liability companies that own the High Horse Saloon, and the Squire Lounge and Broadwater Station Casino, which are housed under one roof.
The Kislings were identified only by their initials in charging documents in Casher’s case. When asked, Parker confirmed their identity.
The Kislings have not yet appeared in court on the charges or plea agreements. Kisling attorney Vern Woodward did not immediately return a call seeking comment.