Is the accountant John Savignano being accused of incompetence and a $400,000 fraud?
John Savignano is a New York certified public accountant who pleaded guilty to conspiring to defraud the IRS.
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He conspired with Rocco Manzione, the owner of multiple concrete companies. Together, they planned to evade the assessment of individual income taxes.
Rocco hadn’t paid any taxes from the tax year 2012 to 2014. However, he had earned handsomely from his concrete businesses.
Then, he tried to borrow funds in 2015 to buy a condominium in Miami.
However, the loan application required John Savignano CPA’s client to supply three years of filed tax returns.
Hence, Rocco contacted John to help him prepare and file false individual tax returns with the IRS. John Savignano underreported his client’s income substantially.
The conspiracy caused the IRS losses of more than $400,000.
He faced a maximum penalty of 5 years in prison. Also, he faced a period of supervised release, monetary penalty and restitution. The DOJ released a notification on this case on October 7, 2021.
More Info on John Savignano of Savignano Accountants & Advisors
Until 2021, John ran Savignano Accountants & Advisors, an accounting firm in New York. Their address is 47-46 Vernon Blvd 2nd Floor, Long Island City, NY 11101.
The contact number of that firm was 718 707 0955.
John had been running this firm since 2012. He graduated from St. John’s in 1983. He sat for the CPA exam that year and received his license in 1985.
Also, he claims to have provided bookkeeping services to Fortune 100 companies. However,
Currently, he is operating Bottom Line Consulting. He started working at the firm in January 2021 and has been running it since. Apart from having a CPA certification, John also has a CGMA certification.
On paper, you would think John is a reliable professional with decades of experience. However, it’s obvious that he is a criminal. Furthermore, his firms have received a ton of complaints from their clients.
The next section will shed some light on John Savignano Accountant reviews:
“John Savignano is a Careless Accountant”
Sean doesn’t recommend John Savignano as an accountant.
He found them through H&R Block and spoke with a senior accountant initially. However, when he sent his tax materials, the senior staff member stopped responding to his calls and emails.
Then, they passed him off to a very junior accountant. The new accountant made numerous mistakes as every draft he sent to Sean had serious errors.
Eventually, Sean thought he had caught all the mistakes. So, he had the accountant file his returns.
Unfortunately, Sean says he is not an accountant. Savignano made too many mistakes and Sean wasn’t able to identify all of them.
As a result, he had to pay several fines to New York State.
He hopes that nobody would need a copy of his 2020 tax return because he has no faith in Savignano’s work.
Also, Sean is certain he overpaid for the work. He doesn’t recommend John Savignano CPA.
John Savignano’s Firm Made Numerous Errors, Forcing the Client to Pay Penalties
Julie shares that she would give this place 0 stars if possible. The entire experience was a nightmare.
She points out that the firm doesn’t have transparent pricing. Also, they were late in giving her the tax return draft and made a mistake in filing her tax returns. What’s worse is they didn’t even fix the mistake in time.
Julie says if you are an honest taxpayer looking for a reliable tax professional, avoid John Savignano Accountant at all costs then.
She found John when she looked up H&R Block. Then, she had a consultation with them where she brought all the required documents.
However, the consultation was very short and they only scanned all the documents. She told them specifically when she wanted them to file her tax returns and the reason why.
They assured her that they would prepare the tax returns within the deadline.
Surprisingly, they never brought up the pricing issue during the consultation. She asked them how much they would charge and they told her they would let her know after preparing the tax return.
Sadly, Julie did not receive her tax return by the promised date. However, she had paid them in full hoping the headache of filing tax returns would be gone. She was mistaken.
How Savignano’s Error Caused the Client to Face Multiple Penalties:
Later, she received a letter from the State Department of Revenue saying she still owed them tax. Also, they were charging her extra interest as a penalty.
Julie contacted John immediately and asked his firm to check her tax return. A staff member told her that they would look at the letter she received and get back to her soon.
Also, she suggested Julie to let the firm handle the letter instead of calling the Department of Revenue.
Afterwards, Julie did not receive an update for a week. She had called or emailed the firm everyday but they didn’t respond for an entire week.
Then, the firm asked her to sign a Power of Attorney to authorize them so they can talk to the Department of Revenue on her behalf.
This baffled Julie.
Later, she contacted the Department of Revenue herself. They told her that whoever prepared her taxes had put in the wrong deduction number in the form. Clearly, Julie was glad she didn’t sign the POA for Savignano accountants.
The firm still wants her to sign the POA but Julie says she will never trust those guys with anything.
Because of such a terrible experience, she doesn’t recommend 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 which caused its clients to lose millions in the last few years.
It seems John is on a similar path.
John Savignano is guilty of conspiring to defraud the IRS, causing them damages of around $400,000.
Furthermore, his firm has received numerous complaints for being inattentive and careless while filing their tax returns. Several of his clients have had to pay penalties because of Savignano’s mistakes.
Certainly, John is not a reliable accountant. You will be better off with someone else.
John Savignano CPA was found guilty of conspiring to defraud the IRS for $400,000. His firm has received numerous complaints for negligence and carelessness. Certainly, he is not as reliable as he claims to be.
- Guilty of $400,000 fraud
- Caused clients to pay heavy penalties due to his errors
- Disregard for clients