Waterloo Tax Fraud Attorney
Getting charged with Tax Fraud is a serious matter. You might be ordered to pay a huge amount of penalty or worse; you might serve time in prison. If you think you are falsely accused, you have to act fast and get legal help from a Tax Fraud Attorney immediately.
Our law firm in Waterloo, Illinois can give you the best legal assistance. We have a team of brilliant Tax Fraud Attorneys who are experts in the field. One of our experienced lawyers can take on your case and build a strong defense. Reach out to our Waterloo Tax Fraud Lawyers, and we’ll help you win your case.
Call Defense Tax Partners at (312) 964-8355 for a Free Consultation!
Tax Mistakes Warranting Fraud Charges
There are many different reasons why an individual faces tax fraud charges, and some of them may simply be errors or mistakes.
The IRS has created a guide of credits and deductions to prevent these kinds of mistakes. It’s often difficult to figure out the expenses that can be counted as a deduction. It’s essential to get this right since it will be deducted from a person’s overall income, resulting in a smaller amount of tax to pay.
To prevent committing this type of tax mistake, taxpayers should always double-check their income tax return before filing it. Wrong information, including errors in address or social security number, can be considered as tax fraud. If multiple errors are made in a tax return form, it can lead to serious consequences.
Unlawful Tax Shelters
Tax shelters are legal, financial agreements that taxpayers can make so they can pay a smaller amount of taxes. However, there are instances when these tax shelters are operating illegally. Taxpayers should be careful when creating or using tax shelters because they can be held responsible by the IRS if it happens to be illegally operating.
Tax Preparer Errors
Taxpayers sometimes hire a professional to do their taxes for them. It’s an effective way to save time and make sure that their taxes are properly calculated. However, there are times when a professional tax preparer intentionally inflates a taxpayer’s income for his benefit. Taxpayers should be careful when hiring tax return preparers because they’ll be held liable by the IRS for miscalculations of incomes and taxes.
Taxpayers should fill out their income tax form with 100% honesty. All incomes earned during the previous year should be included with complete details. The IRS will audit suspicious taxpayers, and if they discover unclaimed income, the taxpayer can be charged with tax fraud or evasion.
If you are facing tax fraud charges for any reason, our dedicated Waterloo tax fraud attorneys are dedicated to assisting you.
Actions That Cause Alarm
The IRS will be suspicious if taxpayers like you will commit any of the following:
- Expenses or deductions are overstated.
- Multiple returns are not filed.
- There are no records to support the information included in your tax return.
- Inconsistent information is given during your audit.
- You have massive amounts of cash transactions.
- You under-reported your income.
Tax Fraud Penalties
The Criminal Investigation Unit of the IRS will first conduct an investigation if someone’s suspected of committing tax evasion or fraud.
An individual or corporation who committed tax fraud or evasion may be charged with one or more of the following charges under Title 26 of the Internal Revenue Code:
- Section 7201 (Attempt to defeat or evade tax)
- Section 7202 (Willful failure to pay over or collect tax)
- Section 7203 (Willful failure to file a return, pay tax, or supply information)
- Section 7206 (2) (Providing false statements or fraud)
- Section 7212 (A) (Attempts to interfere with the administration of IRS)
If a person’s convicted under Title 18 of the United States Code, the penalties include imprisonment of up to 5 years, or you may have to pay fines of up to $250,000.
Let’s Talk Now- Free Consultation
Getting involved in tax fraud can be stressful and difficult. If you feel helpless, let our law firm help you overcome your tax fraud case. Defense Tax Partners is a trusted law firm in Waterloo. We’ve helped a lot of clients, and they’ve successfully settled their tax fraud charges. We’ll thoroughly assess your tax fraud situation and present you with several options or solutions to settle or win your case.
If you need immediate legal advice, feel free to contact us. We offer free consultations for interested parties.
Call Defense Tax Partners today at (312) 964-8355 for your Free Consultation!