MADISON, WI (WSAU) — A Plover man has entered a guilty plea to charges of falsifying tax returns for customers, resulting in larger refunds.
James Canfield was in a federal court in Madison on Monday where he entered the plea for aiding in the preparation of false returns to the IRS. An investigation found Canfield, who owned and operated Advanced Accounting Concepts, INC in Plover, had been inflating the refunds due to his customers for five years between 2013 and ’18.
Canfield admitted to inflating business expenses for clients and also exaggerated deductions for the business use of their homes. This included attributing 100% of their homes as businesses, even though the clients told him that the home was primarily their personal residence.
Sentencing for the 72-year-old was scheduled for September 14th. He faces up to three years in prison and fines of up to a quarter-million dollars. As a result of the plea, he is now barred from ever preparing tax documents for people other than himself.
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