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Posts tagged "Tax Evasion"

Businessman's plea to tax evasion serves as a reminder

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.

Businessman admits to tax evasion in federal court

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.

Can I go to jail if I cannot afford my taxes?

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.

Understanding tax evasion

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.

Understanding the serious nature of tax evasion accusations

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.

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