Ex-IRS Agent Pleads Guilty to Tax Scheme | AccountingWEB

Ex-IRS Agent Pleads Guilty to Tax Scheme

A former IRS agent who told her clients that her inside knowledge of the agency would prevent detection of a fraudulent deduction has pleaded guilty to attempting to interfere with the administration of IRS laws, the Associated Press reported.

Marissa Hyde, 43, told U.S. District Court Judge Ted Stewart that she “made a mistake” by using the fraudulent deduction on behalf of clients of her company Accounting and Business Consulting, located in Layton, Utah.

Hyde admitted she had tried to cheat the government by creating a false deduction for her clients, the AP reported. Stewart scheduled sentencing for Jan. 11. The charge carries a maximum sentence of three years in prison and a $250,000 fine.

The prosecutors described the scheme as using domestic and offshore entities in a way that claimed to provide legitimate tax benefits but which actually was intended to hide income and assets and evade taxes, the AP reported.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.