Feb 6, 2013

Tax Preparers' Hall of Shame: Tax Preparer Sentenced to 61 Months of Hard Time

New Inductee of the Tax Preparers' Hall of Shame is......... Rosa Ivette Colon

Preparer Rosa Ivette Colon, 44, owner of X-Press Taxes, has been sentenced to 61 months in federal prison and three years of supervised release, and been ordered to pay $400,000 in restitution to the IRS in connection with fraud in preparing returns, according to published reports. Colon inflated returns by thousands of dollars for clients by submitting false information to the IRS, including one instance of listing the two-year-old child of one client on another client's 1040 as a dependent, according to one court filing. Colon also provided her clients with another set of 1040s that she falsely presented as copies of what was sent to the IRS.

Here is what clinched her spot as the new inductee: On at least four occasions, Colon reportedly forged signatures on checks totaling $25,000 from the U.S. Treasury to clients to cash them for herself, according to federal prosecutors. Dang, talk about greedy!

Well Rosa, welcome to the infamous Tax Preparers' Hall of Shame. Maybe, you can prepare your fellow inmates' tax returns. Better yet, lets not touch another tax return ever again.

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