MEMPHIS, TN (abc24.com) - A Memphis businessman running a tax refund scam was sentenced to 5 years and 4 months in prison, and ordered to pay back the IRS over $3.4 million.
According to the U.S. Attorney's Office of West Tennessee, 37-year old James Conrad Burks defrauded the IRS over $3,455,249.00 through falsified deductions on tax refunds filed through his business, "Money In Your Hand Tax Service." An investigation revealed that Burks included first time home buyer credits and other false credits on his clients' tax returns, and had a portion of the refunds deposited directly into bank accounts he controlled. Burks also offered $500 for client referrals to file their taxes through his business.
Burks submitted nearly 500 fraudulent tax returns for 2008.
On December 1, 2011, Judge John McCalla ordered that Burks repay the $3.4 million to the IRS and seized his Lexus and his Cordova home. Upon completing his prison sentence, Burks will also be under three years of supervised release.