New York, like every other state, requires residents and businesses to pay state taxes accurately and on time. But what happens if you make unintentional mistakes on your tax return? Is it possible you are unknowingly engaging in tax fraud? Tax fraud involves the...
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Criminal/Civil Tax Litigation
What should I expect from a trial in tax court?
Most of the time, tax issues are something you can resolve without litigation. However, some situations will require going to court. The matter will go to the United States Tax Court. You must show up once your case is on the schedule for a trial. Not showing up could...
Debunking common misconceptions about tax fraud
Tax fraud carries significant legal and financial consequences, yet numerous misconceptions surround this offense. These misunderstandings can lead to potential trouble and non-compliance with tax laws. This article aims to debunk common misconceptions about tax...
Defending against criminal tax charges
Facing criminal tax charges can be an overwhelming experience that can have serious consequences. If you are being investigated for tax fraud or evasion, it is essential to understand the charges against you and to take steps to defend yourself. This article will...
What happens during an IRS audit?
After you file your taxes, the IRS may decide to review what you submitted to ensure it is correct. This is the auditing process, and it can happen to anyone, no matter their situation or financial circumstances. According to the IRS, the purpose of the auditing...
Tips to prepare for an audit
The more complex your tax return, the greater your chances that you may face an IRS audit. Most taxpayers selected for an audit will receive notice by mail. If you receive a letter from the IRS about an audit, you need to respond appropriately. Prepare for your audit...
What could happen if you fail to withhold taxes from employees?
Employment tax issues are a high priority for federal agencies to pursue. Not taking taxes out of paychecks when it is your legal requirement to do so could land you in a lot of trouble. There are several ways you could get into trouble for messing up or failing to...
Operation Hidden Treasure and virtual currency transactions
The IRS employs professional agents experienced in civil and criminal matters to track crypto or virtual currency transactions. Referred to as “Operation Hidden Treasure,” specialized agents review income tax returns to determine whether digital currency traders...
What tax penalties can you face?
Tax season is no walk in the park for any person. Going through the trouble of figuring out the amount owed serves as a difficult and stressful task for most, and on top of that, no one can ever fully predict whether or not they will undergo an IRS audit. On top of...
What to do if you have not filed your tax return
There are many reasons people do not file their tax returns. Whether you have not filed for one year or for many, the worst thing you can do is ignore the problem. Take steps to resolve your unfiled tax returns today. Reasons to file your taxes If you do not file your...