Philadelphia man charged with false tax returns
February 24th, 2010 - 3:57 pm ICT by BNO NewsPHILADELPHIA (BNO NEWS) – A Philadelphia, Pennsylvania, man was charged with willfully aiding and assisting other people in preparing false income tax returns, U.S. Attorney Michael Levy announced on Tuesday.
Jacob Varghese, 63, allegedly prepared 22 fraudulent tax returns from 2005 to 2007. Varghese, owner of J&A Associates, included in the false returns itemized deductions for charitable contributions, payment of attorney’s fees, and unreimbursed employee expenses which were either false or not entitled to deduct.
The false returns defrauded the Internal Revenue Service of more than $90,000 in taxes owed.
Varghese, if found guilty, faces a maximum penalty of 66 years in prison, a3 years of supervised release, a $5.5 million fine, and a special assessment of $2,200.
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