Do You Have IRS Problems Because of Theft?

Posted on June 10, 2014

Have you been the victim of theft from someone you know?

Has a trusted employee, accountant, lawyer or bookkeeper stolen money from you?

Has the theft of these funds caused you to owe money to the IRS?

In a recent Tax Court case, the taxpayers’ bookkeeper helped them run their construction business.  Unbeknownst to the taxpayers, the bookkeeper was a gambling addict and embezzled at least $160,000.00 from the taxpayers.

The money stolen by the bookkeeper was not reported as income on the taxpayers’ tax returns when filed.  As a result of the unreported income, the IRS audited the taxpayers’ tax returns for several years and assessed additional tax liability, including penalties and interest.

Meanwhile, the bookkeeper was sentenced to prison and was required to pay restitution to the taxpayers.  The taxpayers filed an Offer in Compromise based upon Effective Tax Administration and the IRS rejected the taxpayers’ Offer.

The United States Tax Court remanded the case, essentially forcing the IRS to reconsider its decision to reject the taxpayers’ Offer in Compromise.

Has a trusted individual stolen money from you which resulted in your current IRS problems? Call us, we can help.

« Return To Blog
Chicago Area Tax Attorneys

Speak With A Tax Attorney


Chicago Tax Attorneys

314 North York Road
Elmhurst, IL 60126
Proud Member of the
American Society of Tax Problem Solvers

© 2023 Patrick T. Sheehan & Associates, Attorneys at Law, P.C. - Privacy Policy - Terms and Conditions
Serving the Chicago Area - Disclaimer