Link admitted in a plea agreement that he willfully underreported his income on his tax returns for the calendar years 2012 through 2016. The conduct caused total losses to the IRS of at least $71,133, and to the Illinois Department of Revenue of at least $11,527, the plea agreement states. For the calendar year 2016, Link admitted that he underreported approximately $93,859, approximately $73,159 of which was money from a campaign fund – Friends of Terry Link – that Link spent on personal expenses, the plea agreement states.
Link, 73, pleaded guilty to one count of filing a false tax return, which is punishable by up to three years in federal prison. He agreed to pay restitution of $71,133 to the IRS, and $11,527 to the Illinois Department of Revenue.
U.S. District Judge Robert M. Dow, Jr., did not immediately set a sentencing date. A status hearing was set for March 30, 2021, at 9:00 a.m.
The guilty plea was announced by John R. Lausch, Jr., United States Attorney for the Northern District of Illinois; Emmerson Buie, Jr., Special Agent-in-Charge of the Chicago Field Office of the FBI; and Kathy A. Enstrom, Special Agent-in-Charge of IRS Criminal Investigation in Chicago. The government is represented by Assistant U.S. Attorneys Christopher J. Stetler and James P. Durkin.