Mar 30, 2018
Ohio 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 the above. In a tax audit, if the IRS suspect you’ve 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 level of fraud involved, the IRS auditor may ask a tax fraud expert to check at your case and see if it should be sent for criminal prosecution. Normally, this specialist has experience and will seek guidance of the IRS’ tax fraud attorney for help if it looks 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 crime. Once the criminal tax case is completed 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 fines. It’s important to know that tax statements 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. 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, concealing assets, dealing in money, failure to make estimated cash payments, failure to cooperate with authorities, failure to make payments.
If you have one of these issues and are audited by the IRS, you might need a tax fraud attorney. Actions you take during a tax audit can transform a normal tax audit into a tax fraud case. By way of example, 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 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 some of the most ordinary white collar offenses, which affects business professionals and average Americans. Underreporting income, failing to file taxes, or overstating deductions are grounds for audits. If the IRS finds cause prosecute after someone falsifies their tax report – then the IRS will heavily investigate.
Do you need an attorney for a tax fraud case?
If you are accused of tax fraud, you will definitely need a tax attorney to handle your case. Tax fraud is a serious offense, and the IRS takes no prisoners. It is estimated that about 17% of the population commits tax fraud of some form every year. While only a few actually get charged, and half of those convicted, it’s still a huge drain on the system.
If you are under investigation for tax fraud, you should consult an experienced attorney as quickly as possible. Never attempt to go it alone because you will be fighting a losing battle. Federal prosecutors mean business. And if they feel you have willfully defrauded the system, they will come after you. The will use everything in their arsenal to secure a conviction.
Once you hire a tax attorney, it is there job to preserve your rights and help you walk out of court without being convicted. A good tax attorney is steeped in tax law. They know every loophole and exactly how to proceed with your case. The one thing you need to understand is you should never attempt to negotiate for yourself. Many people who attempt to defend themselves haven’t a clue as to what they may be giving up.
Let a professional do the talking for you. Only their knowledge and experience can help regain your life. Don’t delay. Speak with an skilled attorney who can help. Consultations are free.