columbia sc tax fraud lawyers
Tax fraud is a felony and can result in jail time. However, in most cases, the IRS will offer a settlement with a taxpayer that has been accused of tax fraud. If you are audited or under investigation for fraud, it is best to seek the advice of a tax attorney. If you live in Columbia, SC, and are accused of Tax Fraud by the IRS – our IRS tax fraud lawyers can help. The Spodek Law Group is a nationwide law firm, that understands how difficult tax fraud cases and allegations are, and the fact that you need quality legal representation and advice.
Below are some frequently asked question about tax fraud. We understand you’re under stress, but it’s critical you speak to a quality criminal defense attorney who can quickly take over your case.
What are the penalties for tax fraud?
The penalties for tax fraud can be extremely severe. The IRS can impose fines that are equal to 75% of your unpaid tax bill. If you have a net worth more than $2 million or the total tax loss is more than $5 million, the IRS can fine you up to 250% of your unpaid tax bill. In some cases, the IRS can also charge you with a felony and you may even face prison time.
What are some examples of tax fraud?
The following are some examples of tax fraud:
- Returning a false tax return
- Filing a fake tax return
- Failing to file a tax return
- Failing to report all of your income
- Failing to pay the correct amount of taxes
- Falsifying records
- Submitting a false claim for a tax refund
What are the consequences of tax fraud?
The consequences of tax fraud can be severe, especially if you are found guilty of willful tax fraud. If you are convicted of tax fraud, you can be fined up to 75% of your unpaid tax bill. In addition, you can be fined $250,000 for each count of tax fraud. In some cases, you can even be sentenced to jail time.
How can I reduce my tax fraud penalties?
If you have been charged with tax fraud, it is important to work with an experienced tax attorney. The IRS may be willing to reduce your penalties if you are willing to admit wrongdoing and pay back the taxes you owe. However, if you are found guilty of fraud, you will not be able to reduce your penalties.
Will the IRS accept my confession?
The IRS will consider your confession if you are willing to pay the taxes you owe. However, the IRS will not accept your confession if you have been charged with tax fraud. If you have been charged with tax fraud, it is important to speak with an experienced tax attorney before you make any decisions.
How can I pay back the taxes I owe?
If you are facing tax fraud charges, it is important to work with a tax attorney to create a payment plan for your back taxes. You can sell some of your assets if your tax debt is too high, but it is best to speak to a tax attorney before you make any decisions.
What is tax fraud?
Tax fraud is when you deliberately and intentionally do not pay your taxes.
Can you be charged with tax fraud even if you did not know that you were supposed to pay taxes?
Yes. If you did not pay taxes, but had no reason to believe that you were supposed to, you can still be charged with tax fraud.
Is tax fraud a felony?
Yes, tax fraud is a felony.
What is the punishment for tax fraud?
The punishment for tax fraud is a 3 year prison sentence and a fine of up to $250,000.
What if I had a good reason for not paying taxes?
- You may be able to avoid a tax fraud charge if you can show that you had a good reason for not paying taxes. This may include things such as:
- You were unable to pay taxes on time,
- You were forced to pay taxes you did not owe,
- You were unaware of the law, or
- You thought you were reporting your taxes to the government.
Do I need a lawyer to defend me against tax fraud charges?
Tax fraud is a serious charge. If you are being investigated for tax fraud you should contact a criminal defense lawyer immediately. Your lawyer can help protect your rights and defend you against tax fraud.