During tax season, many topics surface. The federal criminal charge of tax evasion may be one of them. You do not want to think about this but understand that that a conviction on this charge will lead to dramatic consequences.
Along with the steep fines, prison time and forced to pay back taxes, you may find yourself unable to find work and become a pariah within your community. The IRS has aggressively gone after you to build its case. You now find yourself in this category of alleged tax scofflaws. Fighting these charges becomes a priority.
Deceit, underreporting income and hiding assets
Maybe you received accounting advice that was less-than-sound. But you must understand that the IRS is tenacious when it comes to its audits and only pursues specific cases for criminal prosecution regarding tax evasion.
Deceit and concealment are at the root of tax evasion, an effort to dodge taxes. Tax evasion may include:
- Intentionally underreporting income. This may include failing to report money from a side gig.
- Claiming unqualified, overstated, fake and inappropriate deductions.
- Hiding or transferring assets as well as income in offshore accounts.
- Failing to file the required tax return.
Avoid finding being lumped in with high-profile tax evaders such as crime boss Al Capone, nabbed by federal investigators in the 1930s or actor Wesley Snipes, who failed to pay taxes on millions of dollars and served nearly three years in prison before his release in 2013.
Seek guidance, look to the future
You do not want to become a convicted felon. That is what will happen to you if the government proves its tax evasion case. Seek the guidance of a skilled legal ally who may get the charges reduced or dismissed. Then look to the future.