Whether one owes taxes or receives a refund, the information and details provided on a tax return must be truthful and authentic. If information is false or one files a return under a false identity, this could present serious issues. Much like identity theft results in criminal charges, one could face criminal tax liabilities if one files a tax return with another identity.
Now that the official tax season is over, you might find some relief in not having to deal with the IRS until next year. However, in some circumstances, they may not give you a choice.
The last thing a person wants to hear is that they are being audited. However, because tax issues can present themselves, individuals in New York could face penalties if the IRS believes that one failed to pay taxes owed, attempted to evade tax liabilities or committed tax fraud. Thus, it is important for individuals to understand how they could resolve these matters.
When individual sin New York and elsewhere get a job, he or she is likely to owe taxes. This can be overwhelming for some, as one is not always prepared to pay what they owe come tax time. Thus, some individuals take steps to avoid having to owe so much. While there are legal ways to reduce tax liabilities, if an individual does not do this legally, this could result in a tax fraud charge.
With tax day around the corner, many are rushing to get everything in order and filed on time. Whether it is the rush of the filing or one's desire to reduce their tax liabilities, individuals in New York and elsewhere could face serious civil and criminal tax liabilities. Tax fraud is a serious matter, making it essential to explore the matter entirely. This can help one explain what happened and could even open up opportunities to reduce the penalties faced by the situation.