Filing taxes is complicated for most people. Though professionals are available to help, utilizing chain services does not always guarantee that mistakes will be avoided. In serious cases, some New York residents could face accusations of tax fraud if the Internal Revenue Service believes that taxpayers took intentional steps to avoid taxes.
These accusations could come about for a number of reasons. Some actions that could cause the IRS to suspect that fraud occurred include purposefully misrepresenting information, intentionally preparing and filing a false return, not reporting all income, deliberately not paying tax debt, or not filing a tax return at all. Of course, it is not only individuals who could face such accusations as businesses could also be charged with tax fraud for not properly filing payroll tax reports, not withholding income tax and various other indiscretions.
If a person or business faces accusations of fraud, the consequences could include having to pay penalties, fines and interest on unpaid balances as well as potentially facing prison time. As a result, it is important that parties in this type of predicament understand that this situation is serious. It is also important to keep in mind that the IRS can make mistakes, and accusations do not necessarily mean that a person or business is guilty.
In any case, charges of tax fraud need direct attention, and any New York resident or business owner accused of fraud could benefit from exploring legal options. It may be necessary to move forward with litigation to combat the allegations. Fortunately, parties can enlist the help of experienced tax law attorneys who could assist them throughout the ordeal.