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Preparer Didn’t Pay $1.1M in Taxes

A Utah tax preparer has been sentenced to 37 months in prison for failing to pay $1.1 million in income taxes. Sergio Sosa, of Orem drew the term for conspiring to defraud the United States and obstructing attempts to collect amount owed.

Sosa must also pay $1,104,737 in restitution to the United States, the amount that he should have paid on income earned from his tax preparation business, Sergio Central Latino, from 2004 through 2020.

The preparer, who pleaded guilty in July, hid income and assets from the Internal Revenue Service from 2003 and 2017. He did not file his owns tax returns or pay taxes he owed for those years.

After the IRS audited Sosa and tired to collect the overdue taxes, which then amounted to more than $750,000 at that point, he opened bank accountants and renamed his business and placing it in his children’s names and lying to the IRS. Sosa also had a children make mortgage payments on his home, using funds Sosa proviced.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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