It is that time of year again, where people will begin the sometimes-arduous process of gathering up all of their financial records from 2021 in order to file their taxes by the dreaded April 15th deadline. While some taxpayers are lucky enough to file their taxes and get a refund, many others are not as fortunate and end up owing Uncle Sam money. While it may be tempting to try to skirt around the tax laws in order to minimize what you owe – or increase the size of your refund – doing so could leave you one day finding a notice in your mailbox from the Internal Revenue Service (IRS)
That notice could mean an audit or investigation has been opened in your case, or they may simply be requesting some further information. Whatever the reason for the notice, the prospect of tax fraud charges is a frightening one, with the potential for serious criminal penalties as well as fines and seizures or liens on property. If you have been notified of an investigation being conducted by the IRS, you should contact a Stamford, CT defense attorney immediately.
Tax Fraud the IRS Is Looking For
If you are self-employed, own your own business, or are in a high tax bracket, there are a number of actions you can take throughout the year to help reduce your tax burden. Unfortunately, not all of these are legal and among the ones that are, they can easily be abused. The IRS is always on the alert for certain types of fraud, and while it may take several months or even years, they will eventually launch an investigation. If you have received a notice about your previously filed taxes, it may be due to one of the following issues:
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