A couple made famous by their reality television show is now facing several years or even decades in federal prison on tax evasion charges. The couple's accountant also faces charges and has been accused of lying to IRS investigators.
A businessman in another state recently pled guilty to federal charges alleging that he engaged in a rather elaborate scheme to avoid paying taxes. The man was involved in supplying building materials as well as other businesses, some of which he operated with his family.
Taxing authorities in the United States, in Illinois, and even throughout the world are reportedly cracking down on wealthy individuals and others who are using cryptocurrency to avoid taxes.
As many people who follow the news know, a large group of well-connected and wealthy people face multiple criminal charges for their role in a scheme to get their children in top schools.
Michael Sorrentino, a reality star on MTV's hit show, Jersey Shore, has reported to a federal prison near his home to begin serving an eight-month sentence. He was convicted of federal tax evasion after pleading guilty to one count.
A businessman from a state on the other side of Lake Michigan from Chicago entered a plea of guilty to tax evasion in federal court. According to reports, the man faces up to 5 years in federal prison as well as a hefty fine, but it is not clear what, if any, deals he had made with the government in exchange for a guilty plea.
Most residents of the greater Chicago area probably recognize that owing back taxes to the Internal Revenue Service, or IRS, is a serious legal problem. The IRS has a number of powerful legal tools that it can use to collect tax revenues that are simply not available to other creditors.
There is something very alluring about offshore banking that makes it a common theme in movies and novels. Usually, the person engaging in the behavior is, at least implicitly, doing something illegal by using the offshore account or, at best, is trying to cover his tracks.
Because accusations of tax evasion can be serious, it is important to understand what tax evasion refers to. Because the tax code is complex, mistakes are understood, however, under-reporting income on purpose and claiming deductions the filer should not receive is considered tax evasion. Tax evasion is considered a serious offense.
Tax evasion accusations are serious and should not be taken lightly. The Internal Revenue Service (IRS) performs criminal investigations and employs greater than 2,000 special agents to investigate complex tax crimes. When individuals intentionally refuse to file an income tax return, when one is required, or report incorrect information on a tax return, the behavior is considered fraudulent and may be considered a crime.