A Heber City, Utah-based CPA has drawn a 78-month prison sentence for filing 18 fraudulent tax returns. CPA Jenkins submitted a claim for a refund of $402,920 for himself for tax year 2007 and an amended return for 2004 seeking a $434,261 refund. He used a falsified IRS form 1099-OID, a form of accrued interest to claim the refund. The IRS labels the technique as one of its Dirty Dozen tax scams.
He also filed 16 returns for other individuals from September 2008 through February 2009, also utilizing the Form 1099-OID, and seeking refunds of $8,407,623. The government said additionally he presented a false financial instrument to the U.S. Department of the Treasury on June 30, 2008 for $300 million.
.