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What You Need To Know About Tax Evasion

Have you been accused of tax evasion? If you’re under investigation by the IRS or have been accused of any type of tax violation, Beckham Solis, Attorneys at Law, may be able to help. We represent clients across Miami-Dade County who are facing this serious federal charge. With our extensive experience with IRS violations and our understanding of viable defenses to tax-related crimes, we are confident in our ability to protect your interests. Our Miami tax evasion lawyers can answer your questions and offer knowledgeable insight related to your case during a complimentary consultation.

Tax evasion is a violation of Internal Revenue Code (IRC) § 7201. Willfully attempting to evade or defeat tax is a felony offense, investigated by the Internal Revenue Service (IRS), prosecuted by the U.S. Attorney’s Office, and punishable by up to 5 years in prison and fines of up to $500,000.

What Is Tax Evasion?

Tax code is complex and can be difficult for any taxpayer to fully understand. It should come as no surprise that mistakes are often made on tax returns, but when does this become a crime? An innocent mistake may be remedied, but intentional attempts or acts of underreporting income or claiming fraudulent deductions may be considered tax evasion, subject to federal charges and serious penalties.

There are two primary types of tax evasion:

  • Evasion of assessment, which is designed to defeat the assessment of a tax. An example may be underreporting income to fit into a lower tax bracket.
  • Evasion of payment, which is designed to avoid paying taxes, typically by concealing money or assets that could be used to pay taxes.

Common Tax Evasion Examples

Whether through evasion of assessment or payment, tax evasion may include various specific acts. Taxpayers, accountants or tax professionals may be accused of committing these.

The following are examples of tax evasion, along with their potential penalties:

  • Failing to file a tax return typically carries civil tax penalties but may be punishable by up to one year in prison and fines of up to $100,000 for each missed tax year.
  • Misrepresenting or concealing financial information is punishable by up to five years in prison and $100,000 in fines.
  • Failing to pay taxes is punishable by up to three years in prison and $250,000 in fines.
  • Filing a fraudulent tax return is punishable by up to three years in prison and $100,000 in fines.

For Experienced Guidance, Call Our Office Today

Accused of tax evasion? Call our Miami tax evasion lawyers at 305-564-4329 to find out what Beckham Solis, Attorneys at Law, can do to protect your interests. You can also fill out our contact form online.