Cracking Down: The IRS is impartial. They don't care if you're famous or rich. If you're trying to avoid paying taxes, they're going to catch you. And when they do, the penalties will be fierce. Recently, Dancing with the Stars Winner and famous Race Car Driver Helio Castroneves has been charged with conspiracy and six counts of Tax Evasion for failing to report income to the IRS.
One of the rights you have as a taxepayer is the right to representation. Take advantage of it and hire a tax attorney if you are faced with major IRS problems. Contacting the Internal Revenue Service directly is not recommended. After all, they do not have your best interests at heart. They are considering the best interests of the federal government and their personal career aspirations. They are not likely to work things out in your favor; they are more inclined to work things out in favor of the federal government.
There are three crimes that you can be convicted of in regard to income tax evasion. The first crime under the penal code is tax evasion, which can impose a fine of $100,000 and five years imprisonment. The second punishable offense the Internal Revenue Service can charge you with is filing a false income tax return. Under this charge, the Internal Revenue Service does not have to prove that you had an intent to evade your taxes, only that you did file false returns. Conviction can get you a $100,000 fine and up to three years in a federal facility.
The third crime of which you can be convicted under law is failure to file an income tax return. As a misdemeanor, you can face 3 years imprisonment and a $25,000 fine for each year you failed to file your income tax return.
If you are facing the possibility of being charged with income tax evasion, you need to hire a tax attorney right away. Forget trying to negotiate with the Internal Revenue Service yourself. At this point, the Internal Revenue Service not only sees you as an uncooperative taxpayer, but as a criminal. You are going to need good, professional representation if you are going to avoid jail time.
You may not be deliberately doing it, but inadvertently you may miss out on your tax obligations. IRS may treat it as a tax evasion. The penalties for tax evasion are very harsh. If you are caught in such a situation, what to do? Chintamani Abhyankar explains in detail.
One of the rights you have as a taxepayer is the right to representation. Take advantage of it and hire a tax attorney if you are faced with major IRS problems. Contacting the Internal Revenue Service directly is not recommended. After all, they do not have your best interests at heart. They are considering the best interests of the federal government and their personal career aspirations. They are not likely to work things out in your favor; they are more inclined to work things out in favor of the federal government.
There are three crimes that you can be convicted of in regard to income tax evasion. The first crime under the penal code is tax evasion, which can impose a fine of $100,000 and five years imprisonment. The second punishable offense the Internal Revenue Service can charge you with is filing a false income tax return. Under this charge, the Internal Revenue Service does not have to prove that you had an intent to evade your taxes, only that you did file false returns. Conviction can get you a $100,000 fine and up to three years in a federal facility.
The third crime of which you can be convicted under law is failure to file an income tax return. As a misdemeanor, you can face 3 years imprisonment and a $25,000 fine for each year you failed to file your income tax return.
If you are facing the possibility of being charged with income tax evasion, you need to hire a tax attorney right away. Forget trying to negotiate with the Internal Revenue Service yourself. At this point, the Internal Revenue Service not only sees you as an uncooperative taxpayer, but as a criminal. You are going to need good, professional representation if you are going to avoid jail time.
You may not be deliberately doing it, but inadvertently you may miss out on your tax obligations. IRS may treat it as a tax evasion. The penalties for tax evasion are very harsh. If you are caught in such a situation, what to do? Chintamani Abhyankar explains in detail.
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Frank Miller has a Debt Consolidation Blog & Finance, these are some of the articles: Why Foreigners Are Acquiring Condominium In Singapore You have full permission to reprint this article provided this box is kept unchanged.
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