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Jamaica accountant charged with filing phony tax credits

TimesLedger Newspapers

A southeast Queens bean counter who bragged he knew about secret tax credits was busted last week for allegedly claiming more than $6 million worth of credits for unqualified taxpayers, authorities announced.

Certified public accountant MD Hyder Alam and two others were arrested and charged in a scam promising taxpayers Alam specialized in applying for “secret mortgage recording tax credits” made possible under President Barack Obama’s tax-relief program, even though the credits did not actually exist, Queens District Attorney Richard Brown announced.

Brown said, “Taxpayers should know that there are no ‘secret tax credits’ known only to a few tax preparers, as alleged in this case.”

According to the charges, Alam prepared 367 New York state tax returns at his office on Hillside Avenue during a nine-month period in 2010 claiming $6.1 million in unqualified credits for taxes paid on properties in the state.

All but two of the returns listed the taxpayer’s home address as either that of Alam or Mohammad Liton Khan, who was also charged in the alleged scheme.

Brown said more than $300,000 in phony tax refunds were paid out on 14 returns before the state Department of Taxation halted the alleged scheme.

Alam and Khan were charged with grand larceny, attempted grand larceny, falsifying business records, scheme to defraud and criminal tax fraud.

Authorities also arrested Kazi Alamgir, who along with Khan allegedly received referral fees for up to 50 percent of a refund for steering taxpayers to Alam, whom they said knew of the tax credits because a legislator told him about them.

Alamgir was charged with grand larceny, scheme to defraud and criminal tax fraud. Brown said all three face up to 15 years in jail if convicted of the charges.

Reach reporter Rich Bockmann by e-mail at rbockmann@cnglocal.com or by phone at 718-260-4574.

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