Tax Scheme Promoter Convicted in New York
A federal jury convicted A. Thomas Thorson, 67, of New York, for conspiracy to defraud the U.S. Treasury Department and aiding the filing of false income tax returns in connection with a scheme to sell millions in fraudulent income tax deductions.”People who cheat the IRS are cheating their friends, neighbors and fellow citizens,” said United States Attorney Rod J. Rosenstein.
Testimony at the three-week trial showed Thorson and his co-conspirators persuaded wealthy individuals to invest in a partnership called Heritage Memorial Park Associates (HMPA). By becoming partners, the investors were told, they would receive a tax deduction and resulting tax benefit that would be substantially larger than their investment.
In fact, the HMPA partnership returns fraudulently inflated the deductions that the partners could claim on their individual income tax returns by more than $8 million.
Relying on the false partnership returns, the investors filed individual income tax returns for 1996 through 1998 that claimed fraudulently inflated deductions for charitable contributions.
Thorson faces up to five years in prison and a fine of up to $250,000.
No related posts.
Tags: conspiracy to defraud, FALSE TAX RETURNS, fraudulent tax reductions
