MIAMI, Florida — A South Florida tax preparation business owner was sentenced to nearly five years in federal prison for aiding and assisting in the preparation of false tax returns. Beatriz Toledo, 61, of Immigration and Tax Service Group LLC, was also ordered to pay over $20 million in restitution to the IRS.
Toledo, who pled guilty in December 2024, willfully prepared false and fraudulent tax returns for clients from 2017 through 2021, according to a press release from the U.S. Attorney’s Office for the Southern District of Florida. The fraudulent claims included false Residential Energy Credits, itemized deductions for state and local sales taxes, and business expenses, which led to decreased taxable income and larger refunds for her clients.
The scheme involved approximately 7,800 tax returns with fraudulent claims, resulting in about $20 million in underpaid federal taxes. Toledo’s company received around $7.1 million in tax preparation fees, taken directly from clients’ refund checks, stated the source…