The Fianna Fail TD for Limerick West, Michael Collins, has said he is voluntarily resigning from the party.
It follows yesterday's revelation by the Revenue Commissioners that he was on a list of over 400 tax defaulters.
In a statement this evening, Mr Collins said he was deeply embarrassed by the disclosure that he had settled with the Commissioners for a total of over €130,000.
The settlement included tax due on income in a bogus non-resident account owned by the TD.
Mr Collins said he has always complied with the legal requirement laid down by the Commission and that he intends to hold his Dáil seat.
