Skimming cash off the top of your business only gets you in trouble.   Often people underestimate the eyes and ears of the IRS and think that they can get away with taking just a little home tax-free.  Most of these people get caught!  Unfortunately the IRS is not perfect either - sometimes people get caught for innocent mistakes too and if you find yourself in an IRS audit, you will need professional tax representation to help you solve your tax problems.  Tax Resolution Services has managed IRS audits from individuals to major corporations.   Our professional tax team of tax attorneys and IRS specialists will assist you with your IRS audit! 

New Jersey furniture retailer Anthony Mehran, the owner, president and CEO of Huffman Koos, pleaded guilty to filing a false tax return, admitting he engaged in a $3.8 million cash-skimming scheme over a five-year period to avoid paying income taxes.

Mehran, 39, of Fort Lee, N.J., pleaded guilty to a one-count criminal information that charges him with subscribing to a false tax return. At his plea hearing, Mehran admitted that from 2000 to 2005 he engaged in a cash-diversion scheme in which he skimmed roughly $3.8 million in cash received by two of his furniture stores, then named Moda Furniture and Moda Fairfield. As part of his scheme, Mehran admitted, he instructed his bookkeepers not to deposit cash sales proceeds into the stores’ corporate bank accounts. Instead, Mehran personally collected cash sales proceeds from the stores on a periodic basis and did not report the income on his corporate tax filings, he admitted.

Mehran admitted that he withheld information about the cash sales from his accountant when he sent the corporate bank account records to the accountant. This conduct, Mehran admitted, caused false corporate and individual tax returns to be submitted to the IRS. He faces up to three years in prison and a fine of $250,000.

Don’t land up in prison and with a fine!  If the IRS audits you, seek professional tax representation today!  Our online free tax consultation form makes it easy for you to take the first step towards tax relief!

More Tax Help, IRS News and Tax Relief Tips:

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3. Tax Resolution Services Offers Only Good Tax Help: Ohio Businessman Hit with Tax Charges after Bad Advice
4. Filing False Tax Returns Could Land Ebay Seller in Prison and Fine of $100k for Tax Evasion
5. Filing a Delinquent Tax Return is Better Than Failure to File Taxes

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This entry was posted on Thursday, October 15th, 2009 at 8:00 am and is filed under IRS Tax Cases, IRS Times and Inquirer. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.