Mar 30, 2018
Delaware 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 charge interest on all the above, and a negligence penalty, along with a late filing penalty. 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 tax fraud penalty can be added by the IRS . 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. 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 plan.
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 further afield following someone falsifies their tax report – then the IRS will greatly investigate.
The Reasons You Need A Tax Attorney
Those who are facing potential criminal or financial penalties from the IRS for tax fraud issues definitely need to consider getting a tax fraud attorney to help them out. It is the only way that they can possibly hope to get themselves out of the circumstance that they find themselves in.
It is important to remember that a person can face both criminal as well as financial penalties if they are found guilty of committing tax fraud. It is no small thing that you can just overlook. A tax attorney can often shield you from many of these potential pitfalls. They can help make sure that your liability is kept to a minimum.
The crime of tax fraud is something that is a lot easier to commit than you might believe. It is something that is often the result of merely making an error on a form. That can get you a scary letter from the IRS demanding all kinds of paperwork and explanations and the like. It can put you in a difficult spot to say the least.
Instead of having that issue hanging over you, why not just hire a tax attorney to help you get through this situation? They already know the ways in which you can fight back against the IRS, so you might as well rely on their experience. They understand the court procedures as well if it comes to that.
All in all, a person is a lot better off if they just go with a tax attorney right from the start instead of attempting to do this work all by themselves. You will have more peace of mind and better results in general if you can get someone who is professional and will be an advocate for your cause. That is who you really want working for you.