Being put under the microscope of the Internal Revenue Service (IRS) is a common and real fear among business people and private citizens alike. Tax evasion is a crime that the IRS takes very seriously, and that’s part of the reason why there is so much stress associated with tax time each year. Many of us will lose sleep and spend countless hours ensuring we understand how to properly file and report our taxes to avoid the understandably painful scrutiny of the IRS. Tax codes are notoriously complex, complicated and difficult to understand. If you’re facing tax evasion charges, you should speak with a skilled attorney as soon as possible.
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Tax evasion can occur in a number of different ways. Essentially, tax evasion is any attempt to avoid paying taxes through illegal means. Most often, we think of a falsification of income as tax evasion, but there are other ways to evade taxes. Dealing in cash and failing to report that income is also considered tax evasion. Keeping inadequate records can complicate matters too. Any type of behavior that involves evasion from the IRS in any way can basically be looked at as tax evasion. Listed below are a few different types of tax evasion. Since the
Types of Tax Evasion
- Falsifying income statement
- Failure to file tax returns
- Concealment of assets
- Inadequate records
- Falsifying tax returns
- Understatements of income
- Claiming excess deductions
- Failure to cooperate with the IRS
- Failing to report cash dealings
- Making fraudulent statements
- Failure to make estimated tax payments
$144 Million Death and punitive damages
$120 Million Injuries from dangerous drugs
$20.4 Million Fraud settlement that went to Mississippians
$2.3 Million Brain injury settlement
$2.1 Million Civil rights death
$1.6 Million Fraud settlement for Mississippians
Few things in life are as stressful as dealing with the IRS. Sleepless nights and the unbearable amount of stress associated with a tax evasion investigation can wreak havoc on your and your family. The IRS no doubt has a team assigned to your case. Thankfully, you don’t have to deal with the IRS alone. You don’t have to worry about any missteps or errors on your part in dealing with the IRS. You can count on a professional tax evasion lawyer to have your back. Even if you don’t have anything to hide, it’s a good idea to have a skilled white collar crime lawyer on your side who has proven tax evasion case experience.
Errors Versus Intentional Tax Evasion
First of all, it’s important to understand that mistakes do happen. Many people want to know if a simple error or mistake will land them behind bars for tax evasion. The short answer is ‘maybe.’ The long answer is that all cases are different, and the unique circumstances of your case will determine what kind of potential charges or penalties you could be facing. Upon learning of any type of tax evasion investigations or charges, your first priority needs to be contacting a criminal defense attorney with proven tax law case experience.
Penalties Associated With Tax Evasions
Depending upon the circumstances of your individual case, you could be facing hundreds of thousands of dollars in fines and potential repayment of back taxes in addition to jail or prison time. Each case is different, so it’s important to speak with your lawyer about the unique circumstances of your case. It’s also possible to have additional charges added to your case during the investigation or auditing process, so speaking with a skilled criminal defense attorney as soon as possible is essential. If you’re facing a misdemeanor conviction, you might have to spend up to one year in jail. If you’re convicted of a felony tax evasion charge, you could do anywhere between three and five years in prison, or more depending upon additional charges.
IRS investigations or charges associated with tax evasion are nothing to take lightly. It doesn’t matter if you think you have nothing to hide or not. Tax law is incredibly complicated, and you don’t want to be criminally held accountable for what might have been a simple accounting error. Additionally, it’s a good idea to have a lawyer on your side during the auditing or investigative process. Actions you take during the auditing process can also be held against you criminally, so make sure you have somebody with experience on your side. Know that you will get through this, and there are people who can help.
If you or a loved one is under investigation or facing tax evasion charges in Jackson or any of the surrounding communities, contact the skilled legal team at Coxwell & Associates, PLLC at (601) 265-7766 for an immediate case consultation.