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8221 Brecksville Rd, STE 205 Brecksville, OH 44141 (440) 340-1030 ConciergeCPAs.com Borbala@ConciergeCPAs.com Our Clients in the News Congratulations to a great client and dear friend, Erica Brenner , on
a W2 from a Sizzling Platter restaurant where he worked in Utah reporting $1,399 in income and zero withholding. And somehow, he had a W2 from a Tampa nursing home showing $17,098 in wages and a million dollars in withholding. But where you or I might have thought, “Hmm, something looks off ,” Blanchett smelled opportunity — and he chose not to look his gift horse in the mouth. So Blanchett chose to file his return with a straight face, based on those W2s. In due time, the IRS sent him a check for $980,000. He took that check and deposited in Sun Trust Bank. Sun Trust suspected fraud (ya think?), froze the funds, and eventually sent the money back to him. So Blanchett took that check and deposited it into a credit union, as one does, falsely stating that the funds were from the estate of his deceased father. By that time, the IRS had realized maybe there was a problem with a guy getting back 53 times his income in a refund. Last month, they seized $919,251 that was left in his bank accounts. Prosecutors haven’t filed charges against Blanchett, at least not yet . But it’s a fair bet this story won’t end well for him. There’s no real lesson in today’s story, other than don’t be a bonehead. But there’s a great way to give yourself a nice refund, and you won’t risk the IRS showing up with a tow truck and making off with your wheels. That answer, of course, is planning . So call us when you’re ready to save, and enjoy the ride! Also, congratulations are in order to Dr. Richard Thompson and his wife, Regina. Their son-in-law Derek Rivers , who is a Patriots football player , is now the proud owner of a Super Bowl ring. Dr. and Mrs. Thompson were at the game in Atlanta with other family members and shared many exciting stories with us about the trip. They are also expecting their first grandchild. Their daughter, Lauren, and Derek are expecting their first baby later this spring. Congratulations to all! winning a Grammy Award last month for Best Classical Solo Vocal Album. Erica produced the album titled “Songs of Orpheus.” Here is a picture of Erica (left) and director Jennette Sorrell (right) in L.A. with the Grammy in the background. Keep up the good work, Erica! We couldn’t be prouder of you!
W ould anyone in their right mind sit down and develop the tax withholding system we have today from scratch? The IRS publishes tables telling employers how much to take out of everyone’s paycheck, depending on their income, their filing status, and the amount they guesstimate they’ll be claiming in deductions and credits. Then, at the end of the year, employees file their actual returns and hope it’s the IRS coming out on the short end. Don’t Worry No One Will Notice
In 2018, the average refund amounted to $2,782, which is enough to cover some bills or take a nice weekend trip. But one enterprising 29-year-old named Christopher Blanchett found himself in a position to snag a refund worth writing home about.
Two years ago, Blanchett sat down to file his return. He had
–Liao Xiong Staff Accountant, Concierge CPAs, Inc
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