
Mark Carroll Financial Disclosure Report Reveals IRS Installment Plan to Pay Back Business Income Taxes Debt
Written by John Lopez On Monday, May 23, after receiving a brief extension from the U.S. House clerk’s office, IL-11 congressional candidate Mark Carroll (R-North Aurora), who’s endorsed by Illinois Family Action, filed his Financial Disclosure report (FD) electronically with the U.S. House clerk. The report was visible to the public on Tuesday, May 24.


“Financial Disclosure Reports include information about the source, type, amount, or value of the incomes of Members, officers, certain employees of the U.S. House of Representatives and related offices, and candidates for the U.S. House of Representatives. “These reports are filed with the Clerk of the House as required by Title I of the Ethics in Government Act of 1978, as amended. 5 U.S.C. app. § 101 et seq. “Section 8 of the STOCK [Stop Trading on Congressional Knowledge] Act of 2012, as amended, requires the Clerk of the House of Representatives to provide online public access to financial disclosure reports filed by Members of Congress and candidates for Congress.”It should be noted the disclosures through an FD filed with the U.S. House clerk (and to the U.S. Senate clerk for U.S. Senators and candidates) are in addition to the filings required under the Federal Election Commission (FEC) Act, and the quarterly FEC campaign disclosure filings for federal candidates and officeholders. Members of Congress must file an FD each year. Full context of Carroll’s IRS liability begins with sharing the whole truth, so the business at issue here is the now defunct Carroll Law Offices, P.C. which was incorporated in 2007 and dissolved in early 2020. Here is the entry in the Illinois secretary of state (SoS) business website:

“The nature of my client base, was such that my pay was irregular and sporadic. There were several years where more than 60% of my total annual revenue came in the last quarter of the year. Unfortunately, this sacrifice often came at a cost to the bottom line and to my ability to support my family. When I could no longer bear the financial burden for my family, I turned my practice to in-house and was faced with the decision to wind down my law practice. “I do not regret for one minute the time or effort I put into representing my private clients. It was a blessing to be able to serve them.”Mark Carroll and his wife who’s also an attorney entered an initial voluntary Installment Plan with the IRS under Form 433-D in or around June 2017, which was later modified in or around March 2018, May 2019, and finally in August 2020. Carroll provided the final redacted copy of the modified IRS Form 433-D to provide full context of the full liability to the IRS documented on the FD:

“Carroll has been making regular monthly payments since October 2020. “The current monthly payment is $1,435.00 per month. “The total IRS debt, including interest and penalties was in excess $89,465 in August of 2020. “The remaining balance is $56,129.00”The $56,129 remaining balance is reflected in the FD Schedule D above, within the $50K-$100K range reported on May 23. Upon the release of his reports, Carroll added the following commitment to prevent the outstanding debt owed to the IRS from becoming an issue in the general election campaign, if he wins the Republican nomination on June 28:
“As for the repayment of the IRS balance, I [Carroll] am in process of refinancing our primary residence. “The balance of the IRS debt will be paid in full out of the proceeds of the loan. “The refinance loan should close in the next 30-45 days. “However, I do not have control of the timing.”As the timing of the loan to pay off the outstanding balance on the debt, currently at $56,129, Carroll plans to eliminate the debt some time in mid to late July. Once the debt is eliminated, Carroll can then file an amended FD, with the debt owed to the IRS eliminated and no longer being an issue. In his statement, Carroll made the following additions for the record:
“Shutting down my law practice was one of the hardest decisions I ever had to make. At the time, I was embarrassed and ashamed that I had failed to keep my law practice alive. “Looking back, I am not ashamed or embarrassed. While in private practice, I was able to represent and serve over 1,500 clients, thaty were made up of small businesses, families and individuals. And by ‘small business’, I mean businesses with less than 20 employees. “The overwhelming majority of my clients were not millionaires or large companies that could afford exorbitant legal fees. I was the first guy my clients called when they had a problem, and unfortunately, I was the last bill they could pay when they received their bills. “My phone was never off and my door was never closed, the same as it will be if I am elected to Congress.”
Conclusions
With the whole truth revealed for Carroll’s IRS Installment Plan, what are voters to do in the 11th Congressional District Republican primary?
- Jerry Evans of Warrenville
- Andrea Heeg of unincorporated Geneva
- Catalina Lauf of Woodstock
- Susan Hathaway-Altman of unincorporated Geneva
- Cassandra Tanner Miller of Elgin
John Lopez has written about policy and elections through the McHenry County Blog since 2019. He is now semi-retired, and does freelance work with analytics, as well as political candidates, emphasizing policy as the means to advance the conservative message, by engaging through policy “dog fighting”, applying discernment for winning and advancing God’s Kingdom agenda. John’s known for getting past the talking points, the narratives, the abstracts, the platitudes and the bromides in order to discuss policy and apply Scripture to overcome unholy divisions in the local community, our state, and nation. John has been married for over 17 years. Follow John on Twitter: @MarcVAvelar