RAMESH SARVA CPA CROOK GET YOUR MONEY BACK Published on Published onDecember 29, 2017 Stacey Arenas Stacey Arenas Following Following Stacey Arenas Assistant Managing Director, Marketing Manager at Vebaplan LLC 583 articles Like 2 Comment 1
43 Federal Court Bars New York Man from Promoting Alleged Tax Scheme Accountant Allegedly Marketed Benefit Plans That Unlawfully Increased Tax Deductions and Avoided Income Taxes A federal court has permanently barred Ramesh Sarva, a certified public accountant in Little Neck, N.Y., from promoting and selling an alleged nationwide tax scheme, the Justice Department announced today. Judge Josephine L. Staton of the U.S. District Court for the Central District of California entered the permanent injunction order yesterday, to which Sarva consented.
According to the complaint, welfare benefit plans permit companies to pool together and make monetary contributions toward the purchase of life insurance for the benefit of each company’s employees or principals. Participants in legitimate welfare benefit plans may be able to deduct the full amount of their plan contributions as a business expense. The complaint alleged that Sarva falsely informed his customers that the welfare benefit plans he promoted were legal, but in fact, Sarva has been promoting plans that illegally permitted his customers to both claim substantial tax deductions for their plan contributions and later access the full cash value of their plan contributions by taking out loans against the life insurance policies purchased. The complaint alleged that Sarva’s promotion of these unlawful welfare benefit plans deprived the U.S. Treasury of significant amounts of tax and subjected his customers to audits and IRS scrutiny.
The injunction order bars Sarva from promoting and selling any purported welfare benefit plans. The court also ordered Sarva to provide the United States with a list of his customers and to send copies of the injunction order to his customers.
In the past decade, the Justice Department’s Tax Division has obtained more than 500 injunctions to stop tax fraud promoters and tax return preparers. Information about these cases is available on the Justice Department website. An alphabetical listing of persons enjoined from preparing returns and promoting tax schemes can be found on this page. If you believe that one of the enjoined persons or businesses may be violating an injunction, please contact the Tax Division(link sends e-mail)
with details.
Related Materials:
United States v. Kenneth Elliott, et al.
Complaint for Permanent Injunction and Other Relief
Stipulated Order of Permanent Injunction
Report this 2 Likes Faisal Alsayrafi,ASA,CVA Stacey Arenas 1 Comment Comments on Stacey Arenas’ article Lance Wallach
Reply to Stacey Arenas’ comment Add a comment… Images Choose Files 2w Open options for Lance Wallach’s comment Lance Wallach Lance Wallach Abusive tax shelters, 419, section 79, 412i micro captive insurance, VEBA, expert witness, author, speaker Protect your clients – and yourself – from all kinds of financial chicanery and stupidity with this vital new book
It doesn't matter if a financial error was made because of malice or ignorance – the end result is that you lose money. Luckily, you don't have to sit idly and take it. If you have Protecting Clients from Fraud, Incompetence and Scams, you can identify and avoid the dysfunctional sectors of the financial industry, steer clear of the fallout from the Madoff Era, and guide your clients to real, healthy, sustainable returns. This powerful book Pinpoints dysfunctional sectors within the financial industry and offers advice against frauds and scammers Shows how a team approach to asset management can ward off financial predators Offers practical strategies and tools to combat client risk for Risk and Asset Management Offering insightful information to protect your clients from all sorts of frauds and incompetence, this essential guide equips you with tips and techniques to spot the red flags of fraud and prevent it before it starts
RAMESH SARVA CPA CROOK GET YOUR MONEY BACK
ReplyDeletePublished on Published onDecember 29, 2017
Stacey Arenas
Stacey Arenas
Following Following Stacey Arenas
Assistant Managing Director, Marketing Manager at Vebaplan LLC
583 articles
Like 2
Comment
1
43
Federal Court Bars New York Man from Promoting Alleged Tax Scheme
Accountant Allegedly Marketed Benefit Plans That Unlawfully Increased Tax Deductions and Avoided Income Taxes
A federal court has permanently barred Ramesh Sarva, a certified public accountant in Little Neck, N.Y., from promoting and selling an alleged nationwide tax scheme, the Justice Department announced today. Judge Josephine L. Staton of the U.S. District Court for the Central District of California entered the permanent injunction order yesterday, to which Sarva consented.
According to the complaint, welfare benefit plans permit companies to pool together and make monetary contributions toward the purchase of life insurance for the benefit of each company’s employees or principals. Participants in legitimate welfare benefit plans may be able to deduct the full amount of their plan contributions as a business expense. The complaint alleged that Sarva falsely informed his customers that the welfare benefit plans he promoted were legal, but in fact, Sarva has been promoting plans that illegally permitted his customers to both claim substantial tax deductions for their plan contributions and later access the full cash value of their plan contributions by taking out loans against the life insurance policies purchased. The complaint alleged that Sarva’s promotion of these unlawful welfare benefit plans deprived the U.S. Treasury of significant amounts of tax and subjected his customers to audits and IRS scrutiny.
The injunction order bars Sarva from promoting and selling any purported welfare benefit plans. The court also ordered Sarva to provide the United States with a list of his customers and to send copies of the injunction order to his customers.
In the past decade, the Justice Department’s Tax Division has obtained more than 500 injunctions to stop tax fraud promoters and tax return preparers. Information about these cases is available on the Justice Department website. An alphabetical listing of persons enjoined from preparing returns and promoting tax schemes can be found on this page. If you believe that one of the enjoined persons or businesses may be violating an injunction, please contact the Tax Division(link sends e-mail)
with details.
Related Materials:
United States v. Kenneth Elliott, et al.
Complaint for Permanent Injunction and Other Relief
Stipulated Order of Permanent Injunction
Report this
2 Likes
Faisal Alsayrafi,ASA,CVA
Stacey Arenas
1 Comment Comments on Stacey Arenas’ article
Lance Wallach
Reply to Stacey Arenas’ comment
Add a comment…
Images
Choose Files
2w
Open options for Lance Wallach’s comment
Lance Wallach
Lance Wallach
Abusive tax shelters, 419, section 79, 412i micro captive insurance, VEBA, expert witness, author, speaker
Protect your clients – and yourself – from all kinds of financial chicanery and stupidity with this vital new book
It doesn't matter if a financial error was made because of malice or ignorance – the end result is that you lose money. Luckily, you don't have to sit idly and take it. If you have Protecting Clients from Fraud, Incompetence and Scams, you can identify and avoid the dysfunctional sectors of the financial industry, steer clear of the fallout from the Madoff Era, and guide your clients to real, healthy, sustainable returns. This powerful book
Pinpoints dysfunctional sectors within the financial industry and offers advice against frauds and scammers
Shows how a team approach to asset management can ward off financial predators
Offers practical strategies and tools to combat client risk for Risk and Asset Management
Offering insightful information to protect your clients from all sorts of frauds and incompetence, this essential guide equips you with tips and techniques to spot the red flags of fraud and prevent it before it starts