Monday, February 9, 2009

"Relax We do the tax" Not!

Iowa CPA Joe Kristan found the website above for Dewayne Peacely, a commercial tax preparer doing business as Personal Tax Service in Waukegan and two other Illinois locations. Some of Mr. Peaceley's former clients may not be doing too much "relaxing" these days.

The Southtown Star reports:

A 45-year-old Flossmoor tax preparer faces up to three years in prison and $250,000 in fines for helping clients submit false income tax returns.

Dewayne Preacely, 45, of Flossmoor, pleaded guilty to tax fraud Thursday in federal court in Chicago.

He admitted to advising and counseling clients to overstate their deductions, said Maria Suarez, spokeswoman for the criminal investigations division of the Internal Revenue Service.

Suarez said Preacely advised clients to overstate amounts of business losses, charitable contributions and child care expenses, "and in some cases (create) fictitious dependents."

Preacely owned and operated Personal Tax, a tax preparation service with offices in Chicago Heights, Harvey and Waukegan.

From 2003 through 2006, Preacely helped clients submit returns calling for a total of $418,000, of which $166,000 came from false information.

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