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Forex Broker (AXcess News) Washington - The Justice Department announced today that it has sued two Las Vegas-based promoters of an alleged sham-trust tax scheme that the complaint alleges has caused an estimated $31 million in losses to the federal treasury. The suit alleges that Reinhold Sommerstedt and Daniel Young of Las Vegas sold sham-trust packages to customers for as much as $14,500 and helped their customers hide their income from the IRS in Caribbean bank accounts. The defendants' customers allegedly used phony loans and gifts to repatriate their money while concealing their income from the IRS.

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Online Brokerage Also named in the suit are Lynn Lakers, a Boulder City, Nev. tax-return preparer who allegedly prepared false tax returns for the phony trusts used in the scheme, and Stephen Nestor of Boise, Idaho, a former IRS revenue officer who allegedly signed tax returns on behalf of the bogus trusts.

H&R Block contributes 8% of the cost of online tax filing when members choose to file their federal returns using H&R Block's online tax preparation products (in order to receive your contribution by filing online, you must link to the H&R Block website thru upromise. shop). Online tax preparation is not eligible for the $15 college savings contribution.

Real Estate Broker "The Department of Justice is firmly committed to shutting down fraudulent trust schemes that cost the treasury and law-abiding taxpayers millions of dollars each year," said Eileen J. O'Connor, Assistant Attorney General for the Justice Department's Tax Division.

H&R Block Inc., the U.S. tax preparation company, interest, term loans against their expected income tax refunds.

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