The Arvada woman indicted for posing as a CPA and filing fraudulent tax returns on behalf of unsuspecting clients turned herself into to the Glendale Police Department last night. On March 21, a Jefferson County grand jury indicted 51-year-old Denise Smith on 28 counts of Aiding in Filing a Fraudulent or False Return, each a class five felony, and 22 counts of Criminal Impersonation, a class six felony.
Working out of her home in Arvada, Smith is alleged to have presented herself as a CPA or a tax attorney to prospective clients. Virtually all of her clients were employed as emergency services personnel, police and firefighters. In each case Smith is accused of having fraudulently inflated deductions or creating deductions that the client would not be eligible for, resulting in a reduced Taxable Income. This would lower their tax burden and increase the amount of their refund. The fraudulent, lowered Taxable Income was also used on the clients? state tax returns. Many of these victims have been audited and will be required to pay penalties and interest.
Smith posted $50,000 bond last night and her first court appearance will be April 3 at 8:00 a.m. A class five felony carries a potential prison sentence of from one to three years, and the range for a class six felony is from one year to 18 months.
