Feb 21, 2023
According to court documents, Kirkland falsely claimed in tax filings that he had lost more than $135 million by investing in solar equipment using several business entities, including Arizona-based Clean Energy Systems LLC, Solar Farm LLC and Corona Energy LLC. He ‘sold’ those losses through a network of tax preparers, saying that their clients could use the losses to claim tax refunds. Kirkland collected $45 million from the sale of the fake losses.
Kirkland provided fraudulent documents to participating taxpayers stating that they were partners in Kirkland’s business and therefore entitled to the tax benefits of the business’s losses. Under Kirkland’s program, the taxpayers would amend their returns for prior years to claim they were entitled to a refund for those years because the losses from Kirkland’s companies offset their income and reduced their tax obligations, using either claimed net operating losses or federal solar tax credits.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Arizona Attorney General to investigate Albertsons-Kroger merger - Phoenix Business JournalArizona’s Attorney General Kris Mayes announced Thursday that her office has launched an anti-trust investigation of the proposed merger between The Kroger Co. and Albertsons Cos.
Source: phxbizjournal - 🏆 254. / 63 Read more »
A memo to Governor Katie Hobbs on supporting Arizona entrepreneurs - Phoenix Business JournalIn this guest column, a University of Arizona professor who also runs a biotech startup offers his thoughts to newly elected Arizona Governor Katie Hobbs on ways she could support and encourage the state's entrepreneurial ecosystem.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Super Bowl merchandise sales in Phoenix up 14% over last year in LA - Phoenix Business JournalSuper Bowl LVII was a success on multiple fronts it appears. Only one Super Bowl Experience in history outsold the 2023 Super Bowl week in Phoenix — Super Bowl 50 in the Bay Area — but that store was open one day longer than the Phoenix one.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Arizona nonprofits ready to work with lawmakers on sound public - Phoenix Business JournalIn this guest column, two Valley executives examine the public policy goals that Arizona's nonprofit and philanthropy sector organizations will be focused on during the 2023 legislative session.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Expanded Clarendale Arcadia senior living in Phoenix targeted for spring opening - Phoenix Business JournalA key trend for a modern senior living community is accessibility to neighborhood amenities, especially walkable ones for the seniors who live there, the developer of the project said.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Engel & Volkers lists award-winning Paradise Valley mansion - Phoenix Business JournalAn award-winning mansion designed by C.P. Drewett and built by BedBrock Developers is listed for $11.95 million. Take a sneak peek into the home in a photo gallery showing the amenities inside and outside the residence.
Source: phxbizjournal - 🏆 254. / 63 Read more »