Friday, October 22, 2021
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Business Tax Fraud

Fake It ‘Til You Make It

A family who owned and operated a counseling business in Georgia successfully faked a vast amount of documents, then submitted them to Medicaid. Their fraudulent efforts paid off initially and they received more than $3 million from the government health care benefits program. (However,...

Chief Fraud Officer

A Chief Financial Officer (CFO) is responsible for multiple things, including controllership duties. This requires the presentation and reporting of accurate and timely historical company financial information. The CFO of a San Francisco Area-based home health care and hospice business failed to carry out...

Underreporting Income Produces Fraud

According to the Internal Revenue Service (IRS), the favorite form of tax evasion in the United States happens to be underreporting income. This happens when a taxpayer either claims less money than they actually made or they claim more deductions, exemptions and credits than...

Growing A Crop of Fraud

The American Farm Bureau Federation states that farmers and ranchers only receive 16 cents out of each dollar spent on food. The remainder goes to ''wages and materials for production, processing, marketing, transportation and distribution.'' (Sometimes, when there's a bad year and crop production...

Benefit Buffet

Fraudsters tend to see government benefit programs as a smorgasbord serving up an abundance of free money. A business owner, who operated six substance abuse counseling centers in Oklahoma, received more than $1.5 million in Medicaid reimbursements she did not deserve. It is reported that...

What a Pile of Scrap

Fraudsters are always coming up with new and innovative ways to carry out their crimes, however, today's "Fraud of the Day" shines the spotlight on a North Carolina businessman who used a simple and oft used technique to hide his fraudulent acts. He thought...

Fraud Chaser

The term "ambulance chaser" refers to lawyers who help clients to obtain damages related to a personal injury. The man at the center of today 's "Fraud of the Day" could be called a "fraud chaser" because he used his ambulance company to chase...

Where You Wish No One Knew Your Name

Cheers, the popular 1980's television sitcom about a bar in Boston, Massachusetts paints a picture of a cozy and friendly establishment where everyone knows your name. The former owner and operator of a sports bar and grill in neighboring New Hampshire fleeced more than...

Good Graces

It's important for small business owners to stay in the good graces with the Internal Revenue Service (IRS). A North Carolina couple, who operated an online business, neglected to report their gross earnings and fell out of the good graces of the IRS. An article...

Serving Up Fraud for Dinner

Restaurant customers love to peruse menus for tasty meals that will satisfy their hankerings. (Whether a blue plate special or a gourmet dish, they expect to have a tasty experience no matter how much they pay.) Customers understand that there are additional costs associated...
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