A man from suburban Chicago faces charges in federal court for allegedly preparing and filing more than 50 fraudulent tax returns. According to an indictment filed Tuesday in U.S. District Court in Chicago, Cedrick Taylor is accused of preparing and assisting with 45 tax returns for multiple individuals between 2018 and 2023. Taylor allegedly created tax returns that overstated and misrepresented credits, deductions, and expenses, thereby reducing supposed tax liabilities and claiming unwarranted refunds. The indictment also accuses Taylor of filing misleading tax returns for himself, misrepresenting tax credits, and underreporting income.
Cedrick Taylor, a 40-year-old resident of Winfield, Illinois, is facing 45 counts of willfully preparing false tax returns for others and six counts for himself. Each count carries a possible sentence of up to three years in federal prison. The date for his arraignment in federal court in Chicago has yet to be announced.
The indictment was made public by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, alongside Ramsey Covington, Acting Special Agent-in-Charge of IRS Criminal Investigation in Chicago, and Douglas S. DePodesta, Special Agent-in-Charge of the FBI Chicago Field Office. Assistant U.S. Attorney Jeffrey Snell will represent the government.
It is important to note that an indictment is not proof of guilt. Each defendant is presumed innocent and entitled to a fair trial, where the government must prove guilt beyond a reasonable doubt.