Louisiana accountant pleads guilty to tax fraud

The owner of B&B Accounting Services submitted false tax returns for four consecutive years

Henry Timothy, the owner of B&B Accounting Services, a home-run business based in Westwego, Louisiana has pleaded guilty in US district court to four counts of tax fraud.

Acting US attorney Alexander Van Hook announced that as the sole tax preparer for the business since 2012, Timothy had submitted false and fraudulent US individual tax returns on behalf of himself and his wife for the years 2013 to 2016.

Timothy omitted between $73,392 and $83,304 in gross receipts for each of the years in the period, with the omission of this income resulting in an additional tax liability of approximately $88,500.

A release from the department for justice said: “As a tax preparer, Timothy was well aware that he had to list all of his gross receipts but failed to do so in order to reduce his tax liability.”

As a result, Timothy faces “up to three years in prison, a $100,000 fine, or both, at sentencing” on 15 April.

The investigation was conducted by both the IRS and FBI, while assistant US attorneys Kelly Uebinger and David Ayo have been tasked with prosecuting the case.

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