Advice: Seven red flags that your tax preparer is a fraud
deductions taxpayers weren’t entitled to take, such as fake medical expenses, sales tax and gifts.
In some cases, he filed returns that included a deduction for mortgage interest — except the clients didn’t own a home. One of those returns falsely claimed $30,488 in itemized deductions, including for mortgage interest. The taxpayer received a refund for $7,318. Hansack filed more than 2,500 returns with false deductions. In all, the Justice Department said, his dishonesty resulted in the loss of more than $3 million in taxes owed to the IRS. He is looking at prison time at his scheduled sentencing in May and has agreed to pay a $50,000 fine and never work in the tax preparation profession again.
“You don’t want to be that person,” Collins said. “Usually, you have to go to the police and you have to file a report. It’s a very painful process.Here are seven red flags to protect yourself from a fraudulent tax preparer.
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