Mar 30, 2018
Alaska Tax Fraud Lawyers
In many tax audits done by the IRS, the agency is only interested in collecting taxes owed, interest, and with penalties. The IRS can impose a negligence penalty, along with a late filing penalty, and charge interest on all the above. In a tax audit, even in case the IRS suspect you have committed tax fraud, they can impose a civil tax fraud penalty. This penalty is typically equal to 75 percent of the tax you owe, plus interest on the penalty.
Based on the degree of fraud involved, the IRS auditor may ask a tax fraud expert to check over your case and see whether it ought to be sent for criminal prosecution. Normally, this specialist has expertise and will seek guidance of the IRS’ tax fraud attorney for help if it appears necessary.
The penalties for tax fraud are severe. You could get up to five years in jail, plus fines of $500,000, in addition to the expense of prosecution for each tax offense. When the criminal tax case is finished by the IRS criminal unit, it’ll be referred back to the IRS Examination Division in which the taxes are assessed. The IRS can add the civil tax fraud penalty in addition to the criminal tax fraud penalties. It’s important to understand that tax statements from civil or criminal tax fraud can’t be discharged through bankruptcy. The civil fraud penalty is dischargeable in a Chapter 7 bankruptcy.
Tax fraud is defined as intentional wrongdoing. To be accused of tax fraud, you must have an intentional violation. Mere carelessness isn’t tax fraud. The IRS looks for certain things when assessing whether fraud occurred, such as: understatement of income, inadequate records, failure to file, hiding assets, dealing in money, failure to make estimated cash payments, failure to cooperate with government, failure to make payments.
For those who have one of these issues and are audited by the IRS, you may need a tax fraud lawyer. Actions you take during a tax audit can transform the usual tax audit into a tax fraud case. By way of instance, lying or giving false answers to IRS investigators, delaying the analysis, or other activities to mislead IRS agents can indicate fraud.
Experienced tax fraud attorneys can help you navigate an IRS tax audit, and help you formulate a strategy.
Is Tax Fraud a crime?
Tax fraud is a frequent charge which could result from real mistakes in reporting tax information to the IRS. Tax offenses are a few of the most ordinary white collar offenses, which affects business professionals and ordinary Americans. Underreporting income, failing to file taxes, or overstating deductions are grounds for audits. If the IRS finds cause afield following someone falsifies their tax report – then the IRS will greatly investigate.
Do you need an attorney for a tax fraud case?
Have you received a notice from the IRS that you are being investigated for tax fraud? If so, it’s not the time to face the charges alone. Here’s why.
The IRS hires thousands of investigators throughout the United States. These agents can access all of your financial records and transactions.
If you are being charged with tax fraud, it means that the IRS may have enough evidence to convict you of this serious crime. For that reason, you will need to hire an experienced attorney who is not afraid to stand up to the IRS with you.
Hiring an attorney has many advantages. Here’s how an attorney can benefit your situation.
1. An experienced attorney can make the situation less frightening for you. When you fully understand the nature of the tax fraud charges, you may feel a sense of relief because your mind is not conjuring up frightful images. An attorney can provide you with the facts about your case.
2. You will know how to handle letters and phone calls from IRS investigators. If you haven’t interacted with the IRS on a personal level, it’s easy to respond in a manner that hurts your chances of acquittal. An attorney will respond to the IRS on your behalf and represent you in court.
3. Your attorney may be able to convince the IRS to withdraw the charges. This is especially true if the alleged tax fraud is due to errors on your part.
When it comes to tax fraud, you should make every effort to take actions that will keep you from having to go to jail or pay hefty fines. An experienced attorney can be your best defense.