Orlando tax preparation firm facing shutdown from Department of Justice for filing bogus returns: DOJ

The Department of Justice has filed an injunction suit to permanently bar an Orlando tax preparer from filing federal tax returns for others. 

According to a press release, the injunction was filed Wednesday to bar Julius T Price and his tax return preparation business, Price’s Accounting Firm Inc., from preparing income tax returns. 

The complaint alleges that Price prepared thousands of federal income tax returns from 2018 to 2023 that understated his customers' tax liabilities and overstated the refunds that they were entitled to through several schemes. 

Price reportedly knowingly made up businesses on returns he prepared to generate bogus losses, including fraudulent claims for the Earned Income Tax Credit, claimed fictitious deductions and credits for tuition and fees and fabricated itemized deductions for medical expenses, mortgage interest, and gifts to charity.

The schemes resulted in the loss of over $1.5 million worth of federal tax revenue.