The Department of Justice (DOJ) has taken legal action against Orlando-based tax preparer Julius T. Price and his firm, Price’s Accounting Firm Inc., following allegations of a widespread tax fraud scheme. According to court documents filed in the U.S. District Court for the Middle District of Florida, Price stands accused of preparing thousands of federal income tax returns between 2018 and 2023 that significantly understated his clients’ tax liabilities while overstating their refunds through deceptive practices.

The complaint asserts that Price fabricated business entities on tax returns to generate false losses, made fraudulent claims for the Earned Income Tax Credit (EITC), and invented deductions and credits for expenses such as tuition, medical costs, mortgage interest, and charitable donations. This scheme allegedly resulted in the loss of more than $1.5 million in federal tax revenue.

Deputy Assistant Attorney General David A. Hubbert of the Justice Department’s Tax Division announced the filing of the civil injunction aimed at permanently barring Price and his firm from preparing federal income tax returns for others.

This development underscores the importance for taxpayers to exercise caution when selecting a tax preparer. The Internal Revenue Service (IRS) advises taxpayers to remain vigilant against unscrupulous preparers and offers resources on its website to assist in choosing a qualified tax professional. Additionally, the IRS has introduced a free directory of federal tax preparers and provides guidance on the credentials and qualifications taxpayers should seek from their chosen preparer.

The case against Julius T. Price serves as a reminder of the consequences individuals and businesses may face for engaging in fraudulent tax practices, highlighting the ongoing efforts by government agencies to combat tax evasion and protect the integrity of the tax system.