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Kirkwood Woman Indicted for $3 Million in Tax Fraud

Nancy Cicero allegedly filed false tax returns beginning in 2005, claiming more than $3 million in refunds.

Nancy Cicero, 69, of Kirkwood, was arrested Monday after being indicted by a federal grand jury Sept. 5 on four felony counts of filing false tax returns and three felony counts of filing fraudulent documents.

According to U.S. Attorney's Office for the Eastern District of Missouri, Cicero filed false tax returns, claiming more than $3 million in refunds from 2005-2009.

Cicero submitted false income tax forms for the taxable years 2005-2008, according to the indictment. On her 1040s, Cicero claimed a refund amount based upon the federal income tax withheld from her false Original Issue Discount (OID) income.

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In total, Cicero represented that debt issuers withheld over $3 million in taxes on her OID income, thus claiming a refund of $3 million, according to a U.S. Attorney's Office press release. 

“At the IRS, protecting taxpayer money is a matter we take extremely seriously. An integral part of the agency’s mission involves detecting and catching fraudulent tax refund claims," says Steve Howard, Internal Revenue Service Criminal Investigation Acting Special Agent in Charge. "The object of these schemes is to defraud the government and the taxpaying public.”         

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If convicted, each count of filing false tax returns carries a maximum penalty of five years in prison and fines up to $250,000; filing fraudulent documents carries a maximum penalty of 25 years in prison and fines up to $250,000 per count.

In determining the actual sentences, a judge is required to consider the U.S. sentencing guidelines, which provide recommended sentencing ranges.

This case was investigated by IRS Criminal Investigation. Assistant U.S. Attorney Dianna Collins is handling the case for the U.S. Attorney’s Office.

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