Mississippi men and business banned from selling tax services

Thomas Walt Dallas, Jason Todd Mardis, and Capital Preservation Services, based in Flowood, have been banned from selling tax services. According to the Department of Justice, the trio marketed a fraudulent tax scheme at professional conferences and media appearances, primarily targeting medical professionals and small business owners.

The DOJ claims they falsely advertised that customers could claim multiple illegitimate deductions. These false claims included deductions for “marketing fees” paid to sham companies, employment of family members (including minors) with deductions for meals, vehicle expenses, and tuition, and “renting” homes to businesses at exorbitant rates to evade taxes on rental income.

The complaint alleges that Dallas, Mardis, and Capital Preservation Services knowingly made false statements about these supposed tax benefits. Authorities estimate the scheme may have caused up to $130 million in lost tax revenue since 2014.

Additionally, Mardis was recently sentenced to 20 years in prison for severely beating his wife in 2022, causing severe injuries, including fractures, lacerations, and extensive bruising.

The IRS has warned taxpayers about promoters of bogus tax schemes aimed at reducing or avoiding taxes, highlighting the risks of such scams.