Tax Return Preparer Sued by DOJ for $1.5 Million Fraud Scheme

Julius T. Price, alongside his tax return preparation business, Price’s Accounting Firm Inc., face a possible civil injunction to permanently bar them from preparing federal income tax returns, according to the Justice Department on Wednesday.

Between 2018 and 2023, Price allegedly prepared federal income tax returns understating customers’ tax liabilities and overstating their refunds.

Price allegedly documented false businesses on returns to generate fake losses, and also included fraudulent claims for the Earned Income Tax Credit, in addition to conducting other schemes, the DOJ said.

The Department estimates Price caused a federal tax revenue loss of more than $1.5 ...