Atlanta Area Return Preparer Allegedly Overstated Refunds through Fabricated and Inflated Deductions and Credits
WASHINGTON – The United States yesterday filed a complaint asking a federal court in Atlanta, Ga., to stop Matthew Adegbite and his companies MAS & Associates CPA, LLC and Mathew A. Adegbite CPA, PC, from preparing federal income tax returns for others, the Justice Department announced today.
The complaint alleges that since at least 2008, Adegbite, who operates out of Tucker, Ga., a suburb of Atlanta, has prepared more than 1,000 returns. The complaint alleges that Adebgite unlawfully understated income tax liabilities and overstated refunds by fabricating and/or exaggerating deductions and tax credits his clients are not eligible to take. Adegbite's practices include fabricating Schedule C losses for non-existent businesses, and falsely claiming the First Time Home Buyer Credit for taxpayers who did not actually purchase a home. Altogether, the government complaint alleges that the loss to the U.S. Treasury from Adegbite’s activities may be in the millions of dollars.