Rhode Island Tax Return Preparer Indicted for Allegedly Filing Fraudulent Tax Returns

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2017-09-27

A federal grand jury in Providence, on September 26, Rhode Island returned an indictment charging a West Warwick, Rhone Island tax return preparer with 44 counts of filing fraudulent tax returns for clients, announced Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and Acting U.S. Attorney for the District of Massachusetts William D. Weinreb.

According to the indictment, Raymond P. Petrarca owned and operated Stratus Financial Group, a tax preparation business located in Warwick. For at least tax years 2010 through 2015, Petrarca allegedly falsified his clients’ tax returns, seeking refunds from the Internal Revenue Service (IRS) to which his clients were not entitled. Petrarca allegedly included false and inflated deductions for home mortgage interest and charitable donations, as well as false and inflated credits for purported home energy improvements.

If convicted, Petrarca faces a statutory maximum sentence of three years in prison for each count, as well as a period of supervised release, restitution and monetary penalties.

Source: U.S. Department of Justice

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