The owner of a Richmond tax preparation firm faces up to three years in prison and a $250,000 fine for preparing a false tax return.
James Raymond Kennedy, 58, pleaded guilty last week on the third day of his trial in U.S. District Court on one count of aiding and assisting in the preparation and filing of false tax returns. Kennedy admitted that he knowingly prepared a return with an illegal tax deduction, according to the U.S. attorney's office in Lexington, which prosecuted him.
Kennedy is scheduled to be sentenced in February.
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