IRS Agent Indicted on Tax Charges, Obstruction
A revenue agent with the Internal Revenue Service has been arrested in connection with a scheme to defraud the government by claiming he suffered a loss when he sold his real estate when, in fact, he realized a substantial profit.
Jim H. Liu, 42, of Diamond Bar, Calif., is an IRS revenue agent who conducts audits of taxpayers. He was arrested at Los Angeles International Airport. Liu was indicted by a federal grand jury on three counts — one count of submitting a false tax return and two counts of obstructing the IRS investigation of his tax return.
The indictment charges that Liu filed a false tax return that improperly claimed a loss on a sale of a property in Pomona. Liu actually sold the property for a substantial gain and should have paid taxes on that substantial gain, the indictment alleges.
The indictment also alleges that during the IRS audit of Liu’s tax return, he provided false documents and made false statements to the IRS in an attempt to obstruct the audit. Liu allegedly mailed and faxed documents to the IRS that falsely stated he bought the property for $231,250 when he knew that he had actually purchased it for $185,000.
If convicted, Liu faces up to 13 years in prison.
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Tags: filing false federal tax return, IRS audits, obstructing IRS investigation, tax cheats, tax evasion
