Mar 31, 2018
Las Vegas Tax Fraud Lawyers
In most 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 of 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% of the tax you owe, plus interest on the penalty.
Depending on the degree of fraud involved, the IRS auditor may ask a tax fraud specialist to look over your case and see if it ought to be sent for criminal prosecution. Typically, this specialist has expertise and will seek guidance of the IRS’ tax fraud lawyer for help if it appears necessary.
The penalties for tax fraud are severe. You could get up to 5 years in jail, plus fines of $500,000, plus the cost of prosecution for each tax crime. When the criminal tax case is completed by the IRS criminal unit, it’ll be referred back to the IRS Examination Division where the taxes are assessed. The IRS can add the civil tax fraud penalty on top of the criminal tax fraud penalties. It’s important to understand that tax bills from civil or criminal tax fraud cannot 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 is not tax fraud. The IRS looks for certain things when evaluating 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 authorities, failure to make payments.
For those who have one of these issues and are audited by the IRS, you may need a tax fraud attorney. Actions you take during a tax audit can transform a tax audit into a tax fraud case. For instance, lying or giving false answers to IRS investigators, delaying the investigation, or other actions to mislead IRS agents can indicate tax fraud.
Experienced tax fraud lawyers 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 can result from genuine mistakes in reporting tax information to the IRS. Tax offenses are a few of the most frequent white collar crimes, 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 to further prosecute after someone falsifies their tax accounts – then the IRS will deeply explore.
Your Need For An Attorney In A Tax Fraud Case
It is hard for us to imagine ourselves being involved in a tax fraud case, but it happens all the time. People that you would least suspect of needing this kind of legal help fall into the category of actually requiring that kind of assistance. The attorneys who work on these kinds of cases are not nearly as surprised. They see the cases coming through their doors all the time. They just want to help those who come to them asking for assistance.
Tax fraud is a serious charge that could cause you to have to pay a lot in penalties to the IRS. You might even find yourself staring down some jail time if you are not careful about this. It is definitely enough to scare most people into the idea that they do in fact require this kind of legal help to see them through. Most of us hardly realize just how much assistance a good lawyer could be to our case.
In the event that you have received a letter from the IRS stating that they believe that you have committed tax fraud there is no time like the present to contact an attorney. In fact, you will want that lawyer to do most of the talking for you when it comes to trying to negotiate with the IRS. They are best equipped to handle this, and it will take the burden and frustration of having to do this work yourself off of your hands and into the lap of someone else.
Although most of us believe that we will never have to face down this situation, just ask some people who already have. They could tell you just how difficult it is for them to get their life back on track after something like this has happened. Don’t become someone who has to deal with this, take steps today to protect yourself against these charges.