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CPA Agrees to Repay $2.5 Million

A New Jersey CPA has agreed to pay $2.5 million in restitution to the United States. The agreement by James H. Benkoil of Avon-by-the-Sea follows his guilty plea to defrauding the U.S. by his promotion of fraudulent tax shelters to high-income clients.

Between 2009 and 2020, Benkoil and others, who were not identified in a press release from the Internal Revenue Service, promoted syndicated conservation easement tax shelters. They obtained inflated land appraisals to achieve the desired amount of tax deductions.

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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