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BAD NEWS FOR NEBRASKA DOCTORS

October 03, 2006

nowledge.jpgSome folks think life in a prairie state is boring. That's not necessarily so. In fact, the tax lives of a handful of doctors in Nebraska are about to get very interesting indeed:

WASHINGTON, D.C. - The Justice Department brought suit against a Bakersfield, Calif., CPA to stop him from promoting two alleged tax fraud schemes and to bar him from preparing federal tax returns for others. The civil complaint, filed in U.S. District Court for the Eastern District of California, alleges that Lowell Baisden sold the scheme to several physicians in Nebraska, one of whom also helped to promote the scheme to others. The suit also alleges that Baisden has sold the scheme to customers in California.

According to the suit, Baisden helps customers form sham corporations in Nevada and uses them to claim improper tax deductions for customers’ non-deductible personal expenses such as utilities, medical bills, vacations, and personal vehicles. Baisden allegedly also prepares tax returns for customers that falsely report their employment income as royalties or rent in order to evade Social Security and self-employment taxes. Additionally, it is alleged that Baisden promotes a second tax scam in which customers divert income to a corporation that he operates.

I've always had fun in Nebraska, but maybe these physicians had a void in thier lives. It's likely no coincidence this allegedly happened during the lean years of Cornhusker football.

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