The owner of an anti wrinkle cream company “Frownies” has been indicted by the IRS on five counts of filing false income tax returns and 2 counts of aiding and assisting in filing false income tax retuns. If convicted he could face 3 years in prison and a fine of $250,000. The owner failed to disclose that his organization was helping to pay for his children’s tuition expenses.
In conclusion you have to be very careful about how you file your taxes there are many easy mistakes to make that could lead you into a lot of trouble. Make sure to keep business and personal affairs separate and to always talk to a tax professional. A lot of tax problems start from a simple civil audit.
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‘Frownies’ Anti-Age Cream Owner Indicted For False Tax Returns, Obstructing IRS