IRS Warns of Tax Scams

LAS VEGAS -- The IRS indicted an ex-attorney living in Las Vegas for tax fraud. Now they are warning other people during the peak of the filing season not to let greed be your guide.

We all want the maximum refund, but if you are trying to cheat the federal government, you could easily get jail time. It's why the IRS released this year's Dirty Dozen.

The hottest scams include identity theft, phishing, inflating income and expenses, abusing charitable organizations, and disguised corporate ownership. IRS Special Agent in Charge Paul Camacho says William Reed was in the business of hiding people's money. Agents identified 70 people with tax problems that gave Reed their money.

On paper, the former attorney posed as a Nevada businessman but swindled $71 million in local and offshore accounts.

"Betting on being a tax cheat using these schemes is like betting on red on an all black roulette wheel. It's a sucker's bet," said Camacho.

Now Reed faces up to 10 years behind bars, millions of dollars in restitution and his alleged clients are still under investigation.

Other scams include free money involving social security and claming zero wages.


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