War Story 120-A

Topic: Fraud, PPP loan

Services: Tax return preparation, financial statement preparation

Al Highsmith, the owner of an auto repair and restoration business, Classy Chassis, in the New England area, has had financial difficulties with the business for many years, partly because he “borrows” money from the business for personal expenses but does not repay the money.

War Story 120-B

Topic: Fraudulent PPP loans

Services: Tax return preparation

Russ Erickson, CPA, knew something was wrong when the IRS began rejecting tax returns he had prepared and submitted for some of his clients. When he contacted the IRS, they suspected that the clients’ Social Security Numbers (SSNs) had already been used for fraudulent tax returns, indicating that data had been breached at some point.

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