But you still need to be able to access the refund. That’s what I don’t understand. The taxpayer is expecting a refund to their account. He inflated it. How is he getting the money? Unless they are signing over that right to him for an advance on their refund.
I learned during my very first tax season when compiling a wealthy individual’s charity deduction - the partner asked me: “Is he already getting a refund?” I said, yes.. He said, “then there’s no reason to cheat”...….
Maybe the money goes directly to the Swampster who gives the preparer a kickback?
The DOJ just got a conviction from someone re the Panama Papers (2013) which was a historic (in size) leak of an international ring of off shore money laundering - that would likely rope in many of the tax prep cases I've been seeing on DOJ. Given the scale of the Panama Papers, I've just seen a few molecules of the overall exposure/convictions.
| U.S. Accountant Pleads Guilty in Panama Papers Investigation | ||
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02/29/2020 2:21:22 PM PST · by ransomnote ·
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So Trump's DOJ started working their way through the information in the Panama Papers when he took office, that's why so many of the cases I've read are in that range of 2010 to around 2017. Trump's DOJ went after this info 4 years after the actual leak, which took place when Obama was in office. That leak likely impliacted swampsters like Hillary and Sotero, and at least half of congress (WHERE does Maxine Waters, Pelosi et. al get and hide their wealth?). THey must have thought they all got away with exposure - the horror on their faces when Trump won. WINNING!
Did clients sign over the right to him for an advance on their refund?
Some tax preparers handover refunds immediately-——in effect, a loan.
The preparers then pocket the actual refund.