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Mar 31, 2018

Oklahoma City 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, in addition to 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 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 should 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 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 will be referred back to the IRS Examination Division in which 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 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. You must have an intentional violation, to be accused of tax fraud. 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 cash, failure to make estimated cash payments, failure to cooperate with government, failure to make payments.

If you have one of these problems and are audited by the IRS, you may need a tax fraud lawyer. Actions you take during a tax audit can transform a normal 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 attorneys can help you navigate an IRS tax audit, and help you formulate a strategy.

Is Tax Fraud a crime?

Tax fraud is a common charge which could result from real mistakes in reporting tax information to the IRS. Tax offenses are a few of the most frequent white collar crimes, which impacts business professionals and average Americans. Underreporting income, failing to file taxes, or overstating deductions are grounds for audits. If the IRS finds cause to prosecute falsifies their tax report – the IRS will greatly investigate.

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Manhattan

85 Broad Street, 30th Floor
New York, NY 10005

Phone

888-977-6335

Queens

35-37 36th St,
Astoria, NY 11106

Phone

888-977-6335

Brooklyn

195 Montague St.
14th Floor,
Brooklyn, NY 11201

Phone

888-977-6335