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Preparer Shorted IRS of $1 Million

 Justice hammer scalesA Texas preparer, who spent more than $114,000 for entertainment, has been convicted of hiding more than $1 million in income.

Raymond Griggs, age 51, of Plano spent “tens of thousands of dollars for jewelry, travel, and flight lessons”, according to the Department of Justice.

Griggs, who was convicted of making a false statement on his income tax return, operated a tax preparation business, Griggs Financial, in the Dallas, Texas, area. While the firm had more than$1.3 million in income in 2013, he only reported. $340,000 to the Internal Revenue Service.

Evidence showed he underreported the business’ gross receipts by about $1 million for both 2011 and 2012.

Griggs faces up to three years in prison.

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