Dental Medicines

Tax Fraud Filed Against Two Dentists

Paying taxes is important for medical practitioners including cosmetic dentist because failure to do so could hurt their business and their reputation. This is the unfortunate case of two dentists based in Kent who were charged with tax fraud and were later found to be guilty beyond reasonable doubt.

The two dentists decided to be partners in crime when they avoided paying over $460,000 which is their income taxes. They went to file a tax return but it was forged and they admitted their guilt during a hearing case in the U.S. District Court based in Seattle.

The doctors in question are Dr. Mike Hsieh and Dr. Christine Chen. They are the co-owners of the Comfort Family Dentistry, Inc which is located in Kent along the road between Kent and Kangley. They started lying to the IRS in 2007 up until 2014 by hiding their true income. They did not declare everything truthfully because they were to lower their tax obligation.

The court revealed that the partner dentists decided to have two different kinds of financial statements pertaining to their business. The first one is the actual expenses while the second one shows inflated expenses. They are sending the second set to their accountant to handle their tax filing. Aside from this, they also opened a bank account that was not revealed to their accountant. Fees paid by the patients that were sent directly to the account are not included in the tax statement. The two dentists also decided to use the cash proceeds of their dental office and exclude that information during filing of taxes.

As restitution, the two agreed to pay over $231,000 each payable to the United States. On top of that, they will also be paying extra charges covering taxes, interest and penalties. The sentence of the two dentists will be revealed in November and the maximum punishment they will get is three years inside the prison along with a fine worth $250,000. While there are dishonest ones, there are also honest cosmetic dentist who are paying their taxes and declaring their income truthfully.

Written by