John Savignano, a certified public accountant in the state of New York, pled guilty to a charge of conspiracy to deceive the Internal Revenue Service.
He plotted alongside Rocco Manzione, who was the proprietor of a number of concrete enterprises. They conspired to devise a strategy that would allow them to avoid paying the individual income taxes that were due.
From the tax year 2012 to the tax year 2014, Rocco has not paid any taxes. On the other hand, he had amassed a considerable fortune from his concrete enterprises.
The next year, in 2015, he made an attempt to borrow money in order to purchase a condo in Miami.
However, the customer of John Savignano CPA was asked to provide three years’ worth of filed tax returns as part of the application for the loan.
As a result, Rocco went to John for assistance in preparing and filing phony individual tax returns with the Internal Revenue Service. Significantly less money was claimed by John Savignano for his customer than was actually earned.
More than $400,000 in revenue was stolen from the IRS as a result of the plot.
He might have been sentenced to a maximum of five years in prison. Additionally, he faced the possibility of a period of supervised release, a monetary penalty, and the need that he makes restitution. On October 7, 2021, the Department of Justice issued a notification on this case.
More Info on John Savignano of Savignano Accountants & Advisors
John was the proprietor of the New York accounting firm Savignano Accountants & Advisors from 2018 to 2021. They may be reached at the given address which is 47-46 Vernon Blvd 2nd Floor, Long Island City, New York 11101.
That company’s phone number is 718 707 0955, and you can reach them at that number.
Since 2012, John had been serving as the CEO of this company. In 1983, he received his degree from St. John’s University. In that same year, he attempted the Certified Public Accountant test, and he passed it the following year, in 1985.
In addition to that, he asserts that he has worked as a bookkeeper for several Fortune 100 businesses. However,
He is currently running Bottom Line Consulting as his business. In January of 2021, he started working for the company, and ever since then, he has been the CEO. John possesses not only a CPA certification but also a CGMA certification in addition to this.
If you only looked at John’s resume, you could get the impression that he is a trustworthy expert with many years of experience. On the other hand, the fact that he is a criminal cannot be denied. In addition to this, the customers of his companies have provided a significant number of complaints.
The next section will shed some light on John Savignano’s Accountant reviews:
“John Savignano is a Careless Accountant”
As a financial advisor, Sean does not suggest John Savignano to anyone.
He was able to locate them by contacting H&R Block, where he first communicated with an experienced accountant. However, after he mailed his tax paperwork, the senior member of staff stopped returning his calls and ignored his emails.
After that, they gave him to a very young accountant to handle for them. The newly hired accountant made a lot of blunders, as evidenced by the fact that every copy he delivered to Sean contained significant flaws.
At some point, Sean reached the conclusion that he had eliminated all of the errors. Therefore, he had his taxes prepared by the accountant.
Sadly, Sean claims that he does not have accounting experience. Sean was unable to pinpoint all of Savignano’s errors since the latter made far too many of them.
Because of this, the state of New York demanded that he pay a number of fines.
Because he does not have confidence in Savignano’s work, he is hoping that nobody will need a copy of his tax return for the year 2020.
Additionally, Sean is convinced that he was overcharged for the work. John Savignano CPA is not someone he would recommend, according to him.
John Savignano’s Firm Made Numerous Errors, Forcing the Client to Pay Penalties
Julie reveals that if there were a rating system, she would award this establishment 0 stars. The whole ordeal felt like a terrible nightmare.
She makes the observation that the company does not have clear pricing policies. In addition to this, they were late in providing her with the draft of the tax return and made an error when they filed her tax taxes. What’s worse is that they weren’t even able to correct the error in time.
If you are a law-abiding taxpayer who is looking for a trustworthy tax professional, according to Julie, you should steer clear of John Savignano Accountant at all costs.
She discovered John after conducting research on H&R Block. Following that, she met with them for a consultation, at which she carried all of the necessary paperwork.
However, they just scanned all of the documents and the consultation was over in a very short amount of time. She gave them very explicit instructions on when she wanted her tax returns filed, as well as the purpose for doing so.
They gave her their word that the tax returns would be ready by the time set by the government.
Surprisingly, they did not address any concerns regarding the cost of the service throughout the meeting. She inquired about the fees that would be incurred, and they replied that they would let her know once they had completed the tax return preparation.
Unfortunately, Julie did not get her tax return by the deadline that had been promised. On the other hand, she had paid them in full in the hopes that she would no longer have to deal with the hassle of filing tax returns. She was completely off base.
How Savignano’s Error Caused the Client to Face Multiple Penalties:
After some time had passed, the State Department of Revenue sent her a letter informing her that she still owed them tax money. In addition to that, they added a penalty interest charge on her balance.
As soon as she could, Julie got in touch with John and requested that his company review her tax return. She was informed by a member of the staff that they would review the letter that she had received and get back to her as soon as possible.
In addition to this, she advised Julie not to call the Department of Revenue but rather to allow the company to deal with the letter.
Afterward, Julie did not receive an update for a week. She had called or texted the company every day for a whole week, but they did not respond to her communications.
The company subsequently requested that she sign a Power of Attorney in order to grant them the authority to communicate with the Department of Revenue on her behalf.
Julie was confused by this.
After some time, she reached out to the Department of Revenue on her own. They explained to her that whoever prepared her taxes had made a mistake by entering the incorrect number of deductions on the form. It was obvious that Julie was relieved that she had decided against signing the POA for Savignano accountants.
The company is still insistent that she sign the POA, but Julie has stated that she will never put any of her confidence in those men.
Due to the fact that she had such a negative encounter with him, she does not suggest John Savignano as an accountant.
Additional Reviews on John Savignano Accountant:
You should be extremely cautious of negligent and careless accountants. For example, Inchmead Accountants is a UK-based firm that caused its clients to lose millions in the last few years.
It would appear that John is heading in the same direction.
John Savignano is responsible for a conspiracy to mislead the Internal Revenue Service, which resulted in damages of around $400,000 for the IRS.
In addition, his company has been the subject of numerous complaints over their lack of attentiveness and carelessness when preparing their tax returns. Because of Savignano’s errors, several of his customers have been forced to make restitution payments.
There is no question that John is not a dependable accountant. You would do better to find someone else to be with.
You may also read: Harish Jagtani, the business tycoon, is being investigated: UPDATE 2023