An employee of an Atlanta tax preparation business pleaded guilty to tax fraud in federal court Tuesday.
Eugene Gibbons, 64, admitted filing tax returns claiming fraudulent deductions, expenses and credits that enabled clients to obtain sizable refunds. The activity took place between 2002 and 2009, U.S. Attorney Sally Quillian Yates said in a statement.
The tax returns Gibbons prepared while working at C&M Tax Service resulted in more than $1.2 million in fraudulent refunds, Yates said. The clients paid Gibbons fees for obtaining the refunds, she said.
In the plea agreement, Gibbons confessed to beginning the tax scheme shortly after he was released from prison on a previous tax fraud charge.
Gibbons will be sentenced Sept. 26. He could receive a maximum of three years in prison and a fine of $250,000 on each of the two charges to which he pleaded guilty, Yates said.
