With the 2008 Tax Season finally having drawn to a close, here’s a primer on what not to do. Just claim business losses for all of your clients, even those without businesses. Your clients will be happy and you’ll get lots of referral business…until the IRS finds out.
That’s what Donald Bushnell of Kansas City did. And he was successful until the IRS discovered what he did. Mr. Bushnell had pleaded guilty to causing the $1.1 million tax loss through his scheme, and he was sentenced last week to three years at ClubFed and a $250,000 fine.
Bozo tax preparer schemes work great…until you’re caught.
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