Tax (917)
CPA Defrauded Employer, Clients of $7 Million
A CPA based in Lebanon, Mo., has been convicted of fraud that included using $72,704 in client funds to pay off his Chevrolet Corvette. Douglas A. Richardson, 46, transferring $4.4 million from a former employer while stealing from clients—taking $7 million from both.
Preparer Guilty in Client Check, ID Theft
A Lake Worth, Fla., tax preparer has been found guilty of government money theft, aggravated identify theft and of preparing false tax returns. Larry Senat, 38, forged his signature on a $9,800 tax refund check and took $1,000 from each client’s refund, besides charging fees.
Thomson Touts Integrating Technology
Thomson Reuters is working to integrate customer productsm CEO James Smith said week. Smith made the comment during the webcast for earnings for the third quarter ended September 30.
Former Preparer/Cop Sentenced in Fraud
A Plainfield, N.J.-based tax preparer has been sentenced to 30 months in prison for filing fake returns both for clients and himself. Samuel Davis Jr., 54, a former N.J. State Police officer, received the term after pleading guilty to conspiring to defraud the IRS, falsifying his tax returns and witness tampering.
WK Adds Client Collaboration
Wolters Kluwer Tax & Accounting has introduced CCH Axcess Client Collaboration. The latest addition to the cloud-based product line, Client Collaboration enables firms to send and receive a variety of documents.
Woman Draws 56 Months in ID Fraud
An Atlanta, Ga., woman has been sentenced to 56 months in prison for her role in filing more than 5,000 phony federal tax returns. Tiffany Lewis received the sentence for her role in the scheme that caused the Internal Revenue Service to issue more than $3.7 million in fraudulent refunds.
IRS Names Nine ETAAC Members
The Internal Revenue Service has appointed nine new members to the Electronic Tax Administration Advisory Committee. ETAAC is a public forum for discussion of issues in electronic tax administration, which works with the Security Summit, a collaboration of different levels of government to fight identity theft and refund fraud.
Intuit Plans to "Disrupt Consumer Finance"
Intuit this month signaled its plans to be increasingly involved in the consumer finance market. During this month’s Investors Day, Greg Johnson, the EVP who runs the consumer tax software business, described Intuit’s strategic view of consumer finance.
California Preparer Sentenced to 26 Months
A San Bernardino County tax preparer, who falsely claimed to be an active CPA, has been sentenced to 26 months in federal prison. Scott Douglas Cutting Sr., 70, of Apple Valley, drew the sentence after being found guilty of tax fraud.
IRS OKs Direct Debit for Collections
The Internal Revenue Service has authorized the use preauthorized direct debit in its private debt collection program. Taxpayers can opt to use the method to make one payment or series of payments.
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