There’s being aggressive, and there’s being stupid. A. Blair Stover was the latter. As the 8th Circuit Court of Appeals noted,
[The IRS]…found that even the most conservative estimate of the tax loss to the government caused by Stover’s schemes was $100 million, and potentially as high as $800 million. Agent Janice Mallon testified that a “reasonable estimation” of the government’s tax loss was $300 million. Apart from those costs, most of Stover’s clients had to pay other professionals to “undo” the structures Stover promoted, organized, and sold. Many had to pay penalties to the government.
Tags: BozoTaxPreparer