Oregon CPA admits to filing false tax return for bookie

A Redmond, Oregon-based CPA has pleaded guilty to assisting in filing a false tax return on behalf of a client who admitted to running an illegal gambling operation, the Department of Justice announced.

Michael W. Holland is scheduled to be sentenced on November 24 in U.S. District Court in Eugene on the charge, which involves his preparation of a tax return for Roy R. Zitek, of Redmond, who pled guilty five years ago to running an illegal sports betting operating and filing a fake return for the 1998 tax year.

Prosecutors contended that Holland knew the return was false, as it left out Zitek's income for his bookmaking operation, which cost the government an estimated $42,000.

“Tax professionals who fail to adhere to their professional obligations by helping their clients in defrauding the IRS will be held accountable,” Teri Alexander, the IRS assistant special agent in charge of Oregon, said in a statement.

Holland faces up to three years in prison and a $100,000 fine.

 

You may like these other stories...

Renaissance avoided more than $6 billion tax, report saysThe Senate Permanent Subcommittee on Investigations said on Monday that a Renaissance Technologies LLC hedge fund’s investors probably avoided more than $6...
A new Gallup survey found that 58 percent of smokers in the United States see increased state and federal taxes on cigarettes as an act of unjust discrimination, while 39 percent believe the tax hikes are justified.The...
Liberal groups object to bill barring taxes on Internet accessThe Internet Tax Freedom Act hasn’t been a controversial bill. In fact, it’s so popular that senators are seeking to pair it up with a far more...

Upcoming CPE Webinars

Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.