U.S. sues Ohio man and his company for improper theft loss tax deductions
April 19th, 2010 - 11:10 pm ICT by BNO NewsWASHINGTON, D.C. (BNO NEWS) – An Ohio man and his company was sued by the United States for claiming improper theft loss tax deductions, the Justice Department announced Monday.
Tobias Elsass of Columbus, Ohio, who is suspended from the practice of law, is the founder of Fraud Recovery Group, a Worthington, Ohio, company that has allegedly helped customers in numerous occasions claim theft loss deductions when the customers, in fact, did not qualify for them.
Elsass and Fraud Recovery Group allegedly target potential customers who have experienced significant investment losses, offering them to prepare federal income tax returns claiming a deduction from the “theft loss” the customer supposedly experienced. In return, they ask for a percentage of the anticipated tax refund that will result from their services.
If a taxpayer is able to substantiate that a loss was experienced in the result of theft of certain criminal investment frauds, federal tax law allows victims to claim a theft loss deduction.
In the lawsuit, the United States is seeking for Elsass and Fraud Recovery Group to be barred from promoting their scheme and preparing tax returns for others.
- Connecticut tax preparer pleads guilty for filing false tax returns - Jan 16, 2010
- U.S. Department of Justice sues Huntington Beach, CA business for $15 million tax fraud scheme - Mar 17, 2010
- Skokie, IL man charged for his role in a tax refund conspiracy - Apr 13, 2010
- Florida woman charged for preparing fraudulent income tax returns - Apr 10, 2010
- High court rejects IT department's plea against Nirma (Lead) - Mar 23, 2011
- Brighton, MI tax return preparer sentenced for preparing false returns - Mar 23, 2010
- Georgia financial service company sued by the U.S. for fraudulent tax preparation scheme - Apr 16, 2010
- Finance Minister outlines measures to 'improve governance' - Feb 28, 2011
- Lenexa, Kansas, attorney sentenced for tax fraud - Feb 25, 2010
- 12 sub-promoters barred in Texas for $30 million methane production scam - Feb 25, 2010
- TCS faces legal battle in US - Apr 03, 2012
- No tax returns on salaries up to Rs.5 lakh - Jun 23, 2011
- Santa Clara, CA hacker indicted in massive tax, mail, and wire fraud scheme - Apr 09, 2010
- Chandigarh region records 38 percent income tax growth - May 18, 2011
- Fake I-T refunds racket cracked - Apr 16, 2012
Tags: bno, columbus ohio, elsass, federal income tax, federal income tax returns, federal tax law, fraud recovery, income tax returns, investment frauds, investment losses, justice department, occasions, ohio man, recovery group, tax deductions, tax refund, tobias, united states, washington d c, worthington ohio