Importance Of Defending Tax Evasion Charge
If you are considering not filing your tax returns this year or putting in just a few details that are not completely true, think again
. Any attempt to evade your taxes can lead to trouble and land you up in jail. US Code Section 7201 provides the details of what could be termed as tax evasion as well as the penalties for these.
Any attempt to willfully evade or defeat the taxes you owe to the US government may lead to a felony charge. Such a charge could jeopardize your life. Get in touch with an attorney to put up a good defense. What classifies as an attempt? Here are a few instances that may be interpreted as tax evasion.
Maintaining two sets of accounting records
Paying employees in cash
Claiming charitable donations falsely
Faking expense claims
Providing salaries from corporate accounts falsely
Keeping details of second business discreet
Providing false details about your property
Which authorities are involved in the investigations? Initially, the Internal Revenue Service (IRS) was the chief one handling the tax crime investigations. However, since 1934, the Tax Division of the US Department of Justice is at the forefront of handling these cases. IRS and the President"s Corporate Fraud Task Force are also involved.
What do you do in such a situation? The wise thing to do is file your tax returns the proper legal way. It is not so easy to cheat the government agencies, and you had better not try it. If you come across information regarding tax evasion or fraud, notify your state tax authority immediately.
What if there is already an ongoing investigation against you? There may be cases where an entity unknowingly commits a tax crime. In such a circumstance, the most important thing to do is contact a
tax attorney to formulate the defense strategy as soon as you know the existence of an investigation.
Why is legal counsel so important? Simply put, to avoid penalties like jail term and fines. The jail term has a maximum limit of 5 years. The fines for individuals are $100,000 and for corporations are $500,000 maximum. Apart from these, the court may order additional penalties on conviction as well.
Discuss with an attorney the specific details of your case as soon as you come to know about an investigation, or accusation. Timely and competent tax crime defense is imperative for avoiding conviction and penalties.
by: James Blatt
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