Feds sue chiropractor, allege failure to report foreign accounts – Youngstown Vindicator

16December 2020

YOUNGSTOWN– Attorneys with the Tax Division of the Treasury Department have actually filed a complaint against a Boardman chiropractor alleging she owes $366,558 plus interest for stopping working to report foreign bank accounts to the federal government.

The problem was submitted Tuesday in U.S. District Court, declaring that Denise Carradine, owner of Carradine Chiropractic Center Inc. and Breath of Vitality Inc. Pilates studio, both of Boardman, opened an account with the Swiss bank Maerki Baumann & & Co. in 2006 and transferred about $814,000 in the account through June 2008.

She put funds from her business in the account, the fit states.

She later moved the funds to an account with Grand Palm Ltd. in the Turks and Caicos Islands and after that closed that account in 2014 and transferred the funds to the United States.

She did not reveal the existence of the Maerki or Grand Palm accounts or a domestic checking account to her income tax return preparer for the tax years 2006 through 2012, the suit declares.

Carradine's lawyer, Roger Stewart, said he and Carradine do not comprehend why a lawsuit was submitted against Carradine because she resolved her issues with the federal government in the past, “and it was all dealt with.”

Stewart said he thinks this is a case in which the “left hand (of the federal government) doesn't understand what the right hand is doing.”

In 2014, Carradine worked with a new tax return preparer and changed her tax returns for 2006 through 2012 to report earnings of about $450,000, the suit states. No interest earnings from the foreign accounts was reported on any amended return, and none of the returns were submitted with the federal government, the fit states.

Carradine got “preclearance” in the Internal Revenue Service's Offshore Voluntary Disclosure Program, the fit states. The OVDP is for taxpayers facing possible criminal liability and/ or substantial civil charges for willfully failing to report foreign monetary properties and pay all tax due as a result of those properties, according to the IRS website.

The suit alleges Carradine was needed to report foreign bank accounts, securities or other monetary accounts in 2007 through 2013 in a form called a Report of Foreign Bank and Financial Accounts, however she did not file the kinds.

As an outcome, an evaluation of $366,558 was levied versus Carradine Dec. 21, 2018, by the Treasury Department, and Carradine is responsible for a late-payment penalty and interest, bringing the total to $399,808, the fit states.

The fit was filed by Richard Zuckerman, principal deputy assistant attorney general for the tax division of the Justice Department.

Judge Benita Pearson and Magistrate Carmen Henderson are assigned to the case.


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Source: vindy.com

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