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Preparer Shorted IRS of $1 Million

 Justice hammer scalesA Texas preparer, who spent more than $114,000 for entertainment, has been convicted of hiding more than $1 million in income.

Raymond Griggs, age 51, of Plano spent “tens of thousands of dollars for jewelry, travel, and flight lessons”, according to the Department of Justice.

Griggs, who was convicted of making a false statement on his income tax return, operated a tax preparation business, Griggs Financial, in the Dallas, Texas, area. While the firm had more than$1.3 million in income in 2013, he only reported. $340,000 to the Internal Revenue Service.

Evidence showed he underreported the business’ gross receipts by about $1 million for both 2011 and 2012.

Griggs faces up to three years in prison.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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