Tax Preparers' Hall of Shame: You Won't Believe This One!

The new inductee of the Tax Preparers' Hall of Shame goes to....... A IDIOT!

A Santa Barbara-based CPA who claimed on his Web site that he has appeared as a tax and financial expert on national television shows was convicted by a federal jury on charges that he underreported more than $1 million by pretending that his accounting income had been earned by his nonprofit foundation for providing “marital counseling.”

Steven Mark Pybrum, 61, who operated his accounting practice under the names of Pybrum & Company, LLP, and Family Business Center, was convicted in October of four counts of subscribing to false income tax returns. The jury deliberated for less than three hours before returning their verdict.

Original story: http://www.accountingtoday.com/news/CPA-Convicted-Claiming-Marriage-Counselor-64452-1.html

Okay, stop the presses! I'm almost at a lost of words. I know how tough it is to pass the CPA exam. I can't believe that a CPA could do something this fraudalent and stupid. Listen to me People, stop assuming that our Justice system is made of a bunch of clowns! Money is not worth going to jail or losing an professional license. Just be happy, free and broke like the rest of us. Welcome to the Tax Preparers' Hall of Shame!

Reasons Why You Should Love Enrolled Agents: Jeffrey A. Schneider, EA

Just in case you didn't know.... Enrolled agents (EAs) are America's Tax Experts. EAs are the only federally licensed tax practitioners who specialize in taxation and also have unlimited rights to represent taxpayers before the IRS.

Jeffrey A. Schneider, EA thought you may want to know about this:

A Lawyer's Mistake Costs $1 million

Special rules allow an estate to pay its taxes on an installment basis without penalty. However, the request for an extension of time to pay those taxes must be filed when the estate tax return is due, even if the amount of taxes cannot be determined. Not doing so can result in penalties and interest. This was the situation in Est. of Thouron v. U.S., 2012 PTC 291 (E.D. Pa. 11/7/12). The fact that the attorney hired by the estate to oversee its tax compliance did not recognize this did not excuse the estate from the non-filing. As a result, the estate was hit with penalties and interest of $1 million and its' claim that it had reasonable cause for not filing the extension to pay because it relied on a professional was rejected.

Who is Jeffrey A. Schneider, EA?

Jeffrey A. Schneider, EA, CCPS (Certified College Planning Specialist) ,CDFA (Certified Divorce Financial Analyst) has been working in the field for well over 30 years, with clients throughout the country. He currently serves as the President Elect of the Florida Society of Enrolled Agents, (FSEA), is a Graduate Fellow of the National Tax Practice Institute (NTPI) and is a Past President of the Palm Beach Chapter of the Florida Society of Enrolled Agents. He also serves on the Government Relations committee of the NAEA, National Association of Enrolled Agents.

How can I contact Mr. Schneider?

 Learn more about Mr. Schneider by visiting his company's website at www.sfstaxacct.com.

How can I learn more about Enrolled Agents?

I would recommend to visit the National Association of Enrolled Agents' (NAEA) website located at www.naea.org.

Tax Preparers' Hall of Shame: CPA Tax Preparer Pleads Guilty to Bank Fraud

The new inductee of the Tax Preparers' Hall of Shame goes to.......Jeffrey B. Travis

CPA and tax preparer Jeffrey B. Travis has pleaded guilty to bank fraud involving a scheme to defraud US Bankcorp and five of his clients of more than $1.8 million.

Travis, who does business as Gross & Travis Ltd., and Travis and Associates Inc., with offices in Deerfield, Ill., admitted that he engaged in the fraud from at least May 2002 until December 2008. He prepared checks payable from his clients to vendors, retirement programs and tax authorities. But instead of delivering the funds to the payees intended by his clients, prosecutors claimed, he deposited hundreds of such checks without authority into accounts he controlled at US Bank, at times altering the checks to increase the amounts paid.

He then withdrew the money from those accounts and diverted the funds, gathering more than $1.8 million over the course of the scheme for his own use. Bank fraud carries a maximum penalty of 30 years in prison, a $1 million fine and mandatory restitution.

Travis, 51, is free on bond while awaiting sentencing, which is scheduled for Feb. 5, 2013. As a condition of his bond, Travis must notify his clients of the charge against him.

Original story: http://www.accountingtoday.com/news/CPA-Tax-Preparer-Pleads-Guilty-Bank-Fraud-64703-1.html

Welcome to the Tax Preparers' Hall of Shame! This type of case makes me sick to my stomach. I hope he gets the maximum sentence. In addition, I hope he shares a jail cell with someone that hates fraudalent accountants. I'm sorry to be so harsh but I hate when professionals take clients' trust for granted. Mr. Travis, you make me sick. That is all for now!