Two tax preparers in Texas, Smart Ajayi and JoAnn Villarreal, were charged with filing fraudulent tax returns and have been permanently barred from operating a tax return preparation business and preparing tax returns for others.
The complaint against the two, Ajayi and Villareal, states that they repeatedly understated their customers’ tax liabilities by making up non-cash charitable deductions and creating false Schedules C with inflated or fraudulent business losses. In one instance Ajayi falsely reported that a customer with an adjusted gross income of $34,027 made $19,759 in non-cash charitable contributions. During the years 2016 to 2018 Ajayi and Villareal filed hundreds of tax returns, causing the US to lose substantial tax revenue.
