"

Estimated reading time: 1 minute, 15 seconds

N.J. Preparer Accused of Hiding Income

A New Jersey-based tax preparer concealed about $2 million in department of justice logopersonal and corporate income, the Department of Justice alleged this month. The preparer, Terrance LeGall, 64, of Linden, N.J., was indicted on 11 accounts of aiding and abetting the preparation of a false tax return and eight counts of tax evasion for failure to file personal and corporate income tax returns. 

LeGall was accused of failing to file returns or pay federal income taxes on income earned from his tax preparation business, LGI, for tax years 2012 through 2015. The indictment alleges LeGall failed to pay about $600,000 in personal and corporate taxes he owed. Additionally, LeGall allegedly lied to IRS agents, claiming at one point he had personally prepared and filed a corporate return for 2012 when he had not done so.

He is accused of failing to obtain a Preparer Tax Identification Number and preparing and filing client returns for 2011 through 2014 as if they were self-prepared. LeGall also did not draw a salary, but allegedly paid for personal expenses through accounts belonging to the firm and had client payments deposited in accounts belonging to family members.

In addition, the indictment alleges he prepared client tax returns that claimed undeserved deductions and phony losses to hold down tax bills.

LeGall faces a maximum sentence of three years in prison and a $250,000 fine for each count of  aiding and abetting in the preparation of false tax returns . Each failure to file count has a maximum sentence of five years and a $250,000 fine.

Read 5899 times
Rate this item
(2 votes)

Visit other PMG Sites:

Template Settings

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Text Color

Header

Background Color

Footer

Select menu
Google Font
Body Font-size
Body Font-family
Direction
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.