Columbia CPA Group, LLC wishes to provide this clarification regarding recent misleading press reports about alleged disciplinary action by the Department of Justice and IRS. This is intended to give some peace of mind to our clients and other interested parties, as well as shed light on items that were not indicated in local news reports.
The court Order entered on Friday, May 3, 2024, is the result of a joint settlement between the United States and Columbia CPA Group, LLC and Aric Schreiner, CPA. This jointly agreed settlement, in which Columbia CPA Group, LLC and Aric Schreiner admit no wrongdoing, is the result of a civil lawsuit filed by the Department of Justice and the IRS concerning the preparation of certain types of tax filings including Charitable Remainder Annuity Trust (CRAT) returns.
This affects only a small portion of the firm’s clients who have been notified previously. Any clients that were not already notified of the litigation can rest assured that their tax filings are not affected and that Columbia CPA Group, LLC will continue to be here to provide the great service and attention to detail that they are accustomed to.
Aric Schreiner and Columbia CPA Group, LLC voluntarily entered into this settlement with the Department of Justice to avoid the continued expense, stress, and disruption of protracted litigation, while admitting none of the allegations contained in the lawsuit.
Please be aware that Columbia CPA Group, LLC, and Aric Schreiner expressly deny any wrongdoing as alleged in the lawsuit. Columbia CPA Group, LLC and Aric Schreiner deny having promoted or orchestrated the CRAT tax strategy relevant to this lawsuit; Columbia CPA Group received tax preparation fees for services performed after the trusts were established and funded. Fees for tax preparation are not “ill-gotten gains” as alleged by the press. There is no scheme as alleged by the press. Although there is a disagreement with the IRS about interpretation of the tax code, Aric Schreiner and Columbia CPA Group are no longer offering services to support existing or new CRATs.
As always, Aric Schreiner and Columbia CPA Group, LLC highly value personal and professional integrity and adherence to the law. Columbia CPA Group, LLC and Aric Schreiner, as a Missouri Certified Public Accountant, stand ready to provide the same quality of service you have come to expect as a client.
Please feel free to reach out with any follow-up questions or concerns.