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Anderson's Ark Associate Guilty
A federal jury in Tucson, Az., convicted an associate of Anderson's Ark and Associates (AAA) - a multinational, membership-based organization that has allegedly assisted hundreds of its members in evading income taxes and laundering money - on charges of filing two false federal income tax returns for the years 1998 and 1999.
According to the evidence presented during the trial, Scott F. Creasia, 39, became associated with Lynden Bridges, a member of AAA in 1998 and utilized a fraudulent tax scheme referred to as a Complex Business Organization (CBO) to eliminate current-year taxes in 1998 and 1999 and recover past-year taxes in 1996 and 1997 in the form of a refund of over $150,000. The scheme involved the formation of two sham partnerships.
Creasia used a variety of corporations, partnerships and trusts to conceal income from the IRS and artificially inflate business losses.
He faces up to three years in federal prison and a fine of up to $100,000 for each of the two counts of the indictment.
Memphis Man Indicted by Grand Jury Faces 60 Years and $5 Mil
Rodney F. Harris, 37, of Memphis, Tn., has been indicted by a federal grand jury, charged with 20 counts of aiding and assisting in the preparation of false income tax returns.
According to the indictment, Harris prepared 20 federal income tax returns for various individuals in 2002, 2003 and 2004 that contained partially fraudulent Schedule A Itemized Deductions that those taxpayers were not entitled to claim. The itemized deductions claimed on the returns totaled over $547,000. Additionally, four of the returns also reported receipts and expenses that were false for the operation of a business. Those returns claimed an additional $47,597 in false business losses.
If convicted on all counts, Harris could face a maximum penalty of up to 60 years in prison and a fine of up to $5 million.
IRS QUESTION CORNER...
Question: Give me the straight truth: What is the deal with the Offer in Compromise program and who qualifies to use it?
Answer: To understand the Offer in Compromise program, it helps to understand a dilemma that has long faced IRS agents: How do you collect from indebted taxpayers?
The old answer was: Chase 'em down! Beat down doors! Turn their pockets inside-out!
Of course, this rarely worked. The IRS quickly discovered that the closed-fist approach to tax collection was not only bad for the image but ineffective for the job.
Then came a softer, gentler approach: The Offer in Compromise program.
This program allows the IRS to collect taxes from indebted taxpayers by working with them, not against them. The first thing you should do is consult a qualified tax professional. He or she will analyze your returns to figure out how much you owe and how much you can realistically pay. If you owe more than you can pay, then, yes, you qualify for the Offer in Compromise program - but no matter your situation, consult a tax professional to see if you qualify.
Once the exact amount you owe is determined, you and your tax professional will go to the IRS and negotiate a settlement amount. This usually amounts to pennies on the dollar! The IRS has realized that collecting some of its debt is better than collect none at all, and generally will work with taxpayers who are being honest and forthright in their attempt to settle tax debt.
Having tax debt over your head can be a nightmare. The Offer in Compromise program is one of several solutions available to taxpayers that can help to eliminate tax dilemmas.
Call me today. I handle IRS problems every day. I'm an IRS Problem Solver.
For a free, no-risk consultation, call my office at 253-752-9522 or send me an E-mail at Firm@DNelsonCPAs.com. Do it today!