Terance Price, a notorious tax return preparer, has been permanently barred from owning or operating a tax return preparation business in Mississippi after a federal court found him guilty of knowingly taking unreasonable positions on tax returns that understated the tax his customers owed, overstated the refunds owed to his clients, or both.
The permanent injunction was entered against Terance Price, both individually and doing business as Superior Taxes, after he failed to respond to the complaint the government served on him. The complaint alleged that Price, who began operating his tax preparation business in 2015, has filed hundreds of tax returns since then, and that he has used other tax preparers’ personal identifying information to file these returns.
According to the complaint, the IRS assessed penalties against Price for failing to make reasonable inquiries to ensure that his customers were legitimately entitled to various tax credits. It was also alleged that Price has not paid those penalties.
The government further alleged that Price prepared returns that falsely claimed residential energy credits, fuel tax credits, and unreimbursed employee business expenses. The complaint specifically stated that Price’s actions are one of the IRS’ Dirty Dozen Tax Scams, and that taxpayers seeking a return preparer should remain vigilant.
Deputy Assistant Attorney General David A. Hubbert of the Justice Department’s Tax Division announced the permanent injunction. Hubbert emphasized the importance of choosing a reputable tax preparer and being aware of the warning signs of a scam.
Return preparer fraud is a serious issue, and the IRS has taken steps to educate taxpayers on how to avoid it. The IRS website provides information on choosing a tax preparer, and the agency has launched a free directory of federal tax preparers. Taxpayers can also use the IRS Free File program, which offers free online tax preparation and filing options for individuals whose adjusted gross income is under $72,000.
The Tax Division has obtained injunctions against hundreds of unscrupulous tax preparers in the past decade. Information about these cases is available on the Justice Department’s website, and an alphabetical listing of persons enjoined from preparing returns and promoting tax schemes can be found on a separate page. If you believe that one of the enjoined persons or businesses may be violating an injunction, please contact the Tax Division with details.
Terance Price, individually and doing business as Superior Taxes, is permanently barred from owning or operating a tax return preparation business and preparing tax returns for others. The permanent injunction was entered after Price failed to respond to the complaint served on him.
Defendant: Terance Price
Criminal charges: Permanently barred from owning or operating a tax return preparation business and preparing tax returns for others
City and state: Southern District of Mississippi
Exact date: N/A (injunction entered after Price failed to respond to the complaint)
Sentence or outcome: Permanently barred from owning or operating a tax return preparation business and preparing tax returns for others
Related Federal Cases
- Emily Wilson, Tax Fraud Scam, Mississippi 2022 · Mississippi
- Dr. Peter Zavell Pleads Guilty to Filing a False Tax Return, Floren… · Georgia
- Peter Zavell, Filed False Tax Return, Florence FL, 2000 · Alabama
- Kenneth Jerome Blackmon Jr., Tax Refund Fraud, Montgomery AL, 2023 · Georgia
- Bruce King Sentenced to 70 Months for Tax Fraud, Montgomery AL, 2023 · Georgia
Key Facts
- State: Mississippi
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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