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Tax Issues That Could End Up in Criminal Charges

 Posted on February 07,2022 in White Collar Crimes

stamford ct tax fraud defense lawyerIt 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:

  • Overstating business expenses, which reduces your overall income and tax debt

  • False billing schemes, which allow you to take additional tax credits

  • Foreign trust schemes, in which all or part of your business assets are held overseas, with no filing requirements

  • International Business Corporations (IBC), which allow you to operate in the U.S. while avoiding taxes

  • Overseas accounts, which allow you to hide some of your income or assets from the IRS

What to Do if You Receive a Notice from the IRS

There are many stories of people who have gotten into trouble with the IRS, only to face financial and personal ruin, however, ignoring the communications you are receiving from the agency will not make the problem go away. In fact, it will only make it worse. If you have been contacted by the IRS that you are being investigated for possible tax fraud, it is recommended you take the following steps:

  • Read the notice closely, paying attention to any instructions provided.

  • Send any information requested, such as copies of past year returns.

  • Keep copies of your correspondence.

  • Do not make any statements about your case without talking to an attorney first.

Contact a Fairfield County White Collar Crime Attorney

If you have been contacted by the IRS for possible tax fraud, do not delay in contacting a seasoned Stamford, CT fraud defense lawyer for help with your case. Call Law Offices of Daniel P. Weiner at 203-348-5846 to schedule a free and confidential consultation and find out how our firm can help.


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