Filing a Fraudulent Tax Return

If you knowingly submit a fraudulent tax return – or one with known errors – you could be facing felony charges.  The penalties can include potential jail time and up to $100,000 in fines.  If you are facing these charges you should hire a criminal tax attorney to have him or her represent you in negotiations with the IRS to try to get your penalty reduced.

Tax Evasion

Tax evasion is a serious tax-related crime.  If you knowingly used illegal means to conceal or misrepresent financial information to evade tax laws or avoid paying taxes, you could face serious penalties.  These can include jail time and fines up to $100,000.  A tax attorney can help represent you in negotiations with the IRS and try to get your penalties reduced.

Failing to File a Tax Return

Not filing a tax return is a misdemeanor that typically comes with civil tax penalties instead of criminal.  You could potentially face jail time and could pay up to $25,000 in fines for each year you didn’t file your taxes.  A tax attorney can help you follow procedures for how to resolve your unfiled tax returns and help you seek a reduced penalty.

Willfully Failing to Pay Estimated Taxes

Not paying the estimated taxes you owe can have consequences beyond your credit score.  This can result in a misdemeanor and could result in jail time and fines.  Hire a tax attorney to help get a lessened penalty.

Knowingly Fail to Disclose Offshore Bank Accounts

If you fail to disclose foreign accounts or assets to the IRS, you can face hefty fines per year that you didn’t disclose the accounts.  This can include a large fine and 50 percent of the account balance at the time of the violation.  An FBAR lawyer can help you determine how to get the penalties reduced.