subject: Putting up a Good Defense against Tax Crimes [print this page] Putting up a Good Defense against Tax Crimes
What is the worst thing that can happen when you fail to file your tax returns? You may face incarceration as well as thousands of dollars in fines for this. The US tax structure is mostly dependant on voluntary filing of returns. However, if you think that this makes it easier to cheat on your taxes, you had better think again.
If you think, or know, that you are the subject of an investigation by Internal Revenue Service (IRS), the first thing to do is find a good tax attorney for your defense. Why is this important? You would be able to get a clear idea about this once you get to know the details of the penalties that await you in case of conviction.
Three specific crimes may give rise to an investigation by the Criminal Investigation Division of the IRS. Here are the details of these charges.
Failure to file returns if you fail to file your tax returns for years, this negligence could cost you dearly. You would be able to get away with less severe penalties if you did not owe any taxes. However, if you owe taxes, it is a misdemeanor. For this, you may have to a one-year prison sentence and/or $25,000 fines for each year you miss to file.
Tax evasion if you were trying to cheat the government on taxes, you may land in serious trouble. The penalties for this felony charge may include 5 years in prison and/or $100,000 in fines. However, if it is a miscommunication, yourtax attorney may be able to help you out of the legal mess.
False return filing if you filed false information regarding your tax filings, all that the government needs to do is prove that you did this. There is no need to prove the intention of tax evasion. For this, you may face a prison sentence of 3 years and/or imposition of $100,000 as fines.
It is important to get in touch with an attorney as soon as you suspect, or know, of such investigation. Most often, you would get an official notification only after the completion of investigation by the IRS and it has a strong case against you. Your attorney needs time to investigate the details and build up your defense.
Do not delay in getting legal help. Time is of utmost importance in tax crime defense. It is also essential to take necessary steps on time to avoid paying hefty fines and worse still, going to prison.
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