There's Tax Scams in Them There Hills (Beware, (SF) 49ers)

(Post #800) The Justice Department is bringing legal action against two tax preparers for fraudulent mining deductions. Eric Peterson of Texas and William Camp of DC sold "investments" in a project called Midas through Merendon Mining of Colorado and an Canadian outfit called the Institute of Financial Learning. Customers made no investments but claimed passed-through tax deductions from bogus returns/1099s prepared by Peterson and Camp. At least seven of the customers were past or present NFL players.

No word on consequences to the footballers, but the Justice Department wants a permanent ban on Peterson and Camp as tax preparers. Once again, the old adage applies: If it sounds too good to be true; it almost certainly is.