FOR IMMEDIATE RELEASE|
FRIDAY, MARCH 25, 2005
TDD (202) 514-1888
LONG ISLAND TAX RETURN PREPARER INDICTED FOR TAX FRAUD
Defendant Allegedly Caused More than $500,000 Tax Loss
WASHINGTON, D.C. - Eileen J. O’Connor, Assistant Attorney General for the Tax Division, Department of Justice and Rosylnn R. Mauskopf, U.S. Attorney for the Eastern District of New York, announced today that a federal grand jury in Central Islip, New York returned an indictment against Paul D. Petrino of Bayshore, New York. The indictment charges Mr. Petrino with willfully aiding and assisting in the preparation of 36 fraudulent income tax returns.
According to the indictment, Mr. Petrino operated a tax return preparation business from his home. He allegedly prepared fraudulent income tax returns which claimed a deduction for “Non-Taxable Income,” in an amount equal to the wages and business income reported on the returns. The indictment alleges that the 36 false returns underreported the income taxes his clients owed by approximately $506,763.
If convicted, the defendant faces a maximum potential sentence on each count of three years imprisonment and $250,000 in fines.
The charges contained in the indictment are only allegations. In the American justice system, a person is presumed innocent until he or she is proven guilty in a court of law.
Additional information about the Justice Department’s Tax Division and its enforcement efforts may be found at http://www.usdoj.gov/tax.