A Chestnut Is in the Rough

Another week, two more individuals have been sued by the Department of Justice for allegedly promoting phony tax schemes. Rodney Chestnut and Nafeesah Hines are alleged to have found a unique way for you and I to obtain tax refunds: redemption. You see, there are supposedly secret tax accounts that you can get money out of just by filing phony Form 1099-A’s and 1099-OID’s.

I can’t tell you much more about this method, because it doesn’t exist. There are no secret tax accounts. This method (redemption) is as phony as a three-dollar bill.

Mr. Chestnut and Mr. Hines will have the joy of trying to find those secret accounts when they get their day in court. Good luck–they’re going to need it.

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