DOJ Takes Action Against Tax Preparer for Alleged Fraud
Orlando Tax Expert Faces Government Crackdown Over Alleged Fraudulent Scheme (PHOTO: Alamy)
DOJ Cracks Down on Tax Preparer Fraud: Orlando Firm Allegedly Misrepresents Returns, Costing $1.5M in Tax Revenue
The Department of Justice DOJ has taken action against Julius T. Price and his tax preparation business Prices Accounting Firm Inc. based in Orlando Florida. Mr. Price has been preparing tax returns since 2003. The DOJ has filed a civil injunction to permanently stop him and his business from preparing federal income tax returns for others.
The DOJ alleges that Mr. Price prepared thousands of federal income tax returns between 2018 and 2023. They claim that these returns misrepresented his customers tax liabilities and overstated their refunds. The complaint accuses Mr. Price of creating false businesses on the returns making up losses and inventing deductions and credits to inflate refunds. This alleged fraud has resulted in the loss of over $1.5 million in federal tax revenue.
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Deputy Assistant Attorney General David A. Hubbert from the DOJ’s Tax Division announced the action. He emphasized the importance of taxpayers being cautious when choosing a tax preparer. The IRS has resources on its website to help taxpayers select a reliable preparer and they have launched a free directory of federal tax preparers. The IRS also provides guidance on the credentials and qualifications taxpayers should look for in a preparer.
