The U.S. Attorney for the Northern District of Texas, Leigha Simonton, announced that a Kennedale tax preparer has pleaded guilty to a $2.6 million tax fraud scheme. Anthony “Tony” Floyd, 51, faced charges for aiding in the preparation and presentation of false tax returns, with the case reaching a critical point this Tuesday.
Floyd was charged in June 2023 with 10 counts related to the fraudulent preparation of tax returns and admitted guilt to all charges as his trial was about to commence. This admission came shortly after a jury had been selected, marking a swift turn in the proceedings.
The scheme orchestrated by Floyd involved the filing of approximately 400 fraudulent tax returns. These documents contained deliberately falsified information aimed at inflating the refunds due to clients. According to official statements, Floyd engaged in recruiting “clients” from the vicinity of large retail outlets and through referrals. He collected sensitive personal and financial information via text and phone, then filed the returns without the taxpayers’ review, redirecting the majority of the refund amounts to his personal accounts.
Authorities highlight that the manipulated tax returns featured fabricated W2 forms, claimed deductions for non-existent charity donations, college attendance, and included fictitious dependents. The total tax loss from Floyd’s actions is estimated to surpass $2.6 million.
As a result of his guilty plea, Floyd now faces a potential sentence of up to three years in prison for each count, summing up to a maximum of 30 years behind bars. This case serves as a stark reminder of the consequences of engaging in tax fraud and the justice system’s commitment to prosecuting such fraudulent activities.
