Tax Preparers Get Busted for Fraudulent Practices
Every tax season is full of stories and tales of people who go to great lengths to avoid paying taxes. In addition there are dozens of reports of unscrupulous tax preparers that get caught trying to cheat the system: either their clients or the IRS, or both.
We want to share a few of those stories with you, which come from Accountingtoday.com. The first tale comes from Latham, NY, where a 52-year-old tax professional has pleaded guilty to false returns. The preparer admitted to preparing 16 returns that contained all kinds of false information, from false deductions for unreimbursed employee expenses to energy efficiency credits. The false returns were submitted between 2008 and 2011. He could face as much as three years in prison and a fine of $100,000.
Elsewhere, the Justice Department has asked a federal judge to permanently bar three Liberty Tax Service franchises in South Carolina after they allegedly prepared false returns in order to give their clients’ refunds a boost. According to the complaint, one franchise filed returns that included a “bogus ‘arts and crafts’ business on one of its client’s return and a bogus ‘hair care’ businesses on another’s.”
Meanwhile, another preparer, in Louisiana, will be spending two years behind bars and another year of supervised release, along with paying a hefty fine of more than $225,000 after he was convicted of filing a false personal income tax return and preparing bogus returns for many of his clients.
These are just a few examples of dishonest tax preparers that are out there. So now that tax season is in full swing, make sure you choose a tax preparer you can trust.
3 Strategies to Convert Perfectionist Paralysis Into Productivity
3 Strategies to Convert Perfectionist Paralysis Into Productivity By Paula Eder Time management tips help you break time habits that hinder your progress. For example, think of habitual perfectionism as the ultimate time goblin. The more of your time you feed it, the larger and more tyrannical it becomes. Fortunately, perfectionism is a learned behavior…
Venture Capital: Investing In The European Marketplace
Venture Capital: Investing In The European Marketplace By Stephen McLaughlin As anyone who has ever tried it knows, As anyone who has ever tried it knows, venture capital investing is not a game for the weak of heart. While it is certainly true that some venture capitalists have accumulated massive investing is not a game…
The Language of Trusts
The Language of Trusts Many professions and disciplines have their own vocabulary. As an example, think about the terminology used in medicine and law. Often this vocabulary defines complex ideas, yet just as often “terms of art” can be defined with relative ease to a layperson. Such is the case with much of the language…
Tax Planning Considerations
Tax Planning Considerations First Year Tax Issues Upon Becoming a US Resident If a married taxpayer wishes to file a joint return, both spouses must be residents at the end of the year and elect to be treated as U.S. residents for the entire year. If the taxpayer is taxed as a U.S. resident for…