May, 2009

Message from Nelson & Company, P.S., CPAs

The Move---We're in!

It took some time and effort, but we are finally settled into our new offices! The new building, in its park-like setting, is spacious and built to be efficient. City and freeway access is much easier than it was at our prior location. If you haven't already looked for us, you can easily find us using your favorite Internet mapping services, or just call for directions.

We look forward to seeing you at our new and beautiful office!

NELSON & COMPANY, P.S.
Certified Public Accountants


IRS Times & Inquirer

Inside This Issue...

Arizona Man Faces Five Years
IRS Investigation Results in 18-Month Prison Sentence
IRS Agent: GUILTY!


Arizona Man Faces Five Years

Arlan R. Turley, 60, of Gilbert, AZ, was indicted on two counts of willful failure to file a tax return and 20 counts of willful failure to pay over taxes. Turley, a licensed dentist in Arizona, operated the East Valley Dental Service in Mesa, AZ.

The indictment alleges that the charges for failure to file are the result of Turley's non-filing of his 2002 and 2003 income tax returns. In fact, Turley has not filed an individual tax return for the years 1997 to 2007. The charges for failure to pay are alleged to be the result of Turley not turning over his employees' payroll taxes to the government. If convicted, he faces up to five years in prison and a fine of up to $250,000.


IRS Investigation Results in 18-Month Prison Sentence

Lee B. Woodbury, 51, of Gilbert, AZ, was sentenced to 18 months in prison and ordered to pay restitution of $97,232 after pleading guilty to willfully filing a false tax return. Until contacted by the IRS Criminal Investigation Division, Woodbury had not filed returns for tax years 1998 to 2001. He later underreported his income in returns. In total, the tax loss as a result of Woodbury’s willfully filing false tax returns was $35,633.


IRS Agent: GUILTY!

A revenue agent with the Internal Revenue Service has agreed to plead guilty to a federal tax fraud charge for filing a personal income tax return that claimed he suffered a loss in a real estate transaction when in fact he realized a substantial profit.

In a plea agreement, Jim H. Liu, 43, of Diamond Bar, CA, agreed to plead guilty to subscribing to a false tax return — a charge that carries a penalty of up to three years in federal prison. As an IRS employee, Liu conducted audits of taxpayers.

Liu admitted he filed a false tax return for the 2002 tax year that improperly claimed a loss on his sale of a property in Pomona. Liu sold the property for a profit of more than $48,000, but he instead claimed a loss of more than $4,200. The tax loss to the government, as a result of Liu’s filing, was approximately $14,642.88.


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Nelson & Company, P.S., CPAs Since 1979

====NOTICE REQUIRED BY IRS====
Circular 230 Disclosure:
To ensure compliance with requirements imposed by the IRS, we inform you that (i) any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used for the purpose of avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

 

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