Tax season is just around the corner, which means that companies and individuals will have to file a return to determine whether they will get an income tax refund or have to pay in. Hardly anyone can say that they look forward to having to pay in when tax returns are filed; however, failing to file a return just because you don’t want to pay can land you in serious trouble.
We know that you might want to avoid even thinking about income taxes until after the first of the year; however, if you start to plan now, you might be able to find legal ways to soften the tax blow. Things like contributing the maximum amount to your retirement account might be beneficial.
One thing that you don’t want to do is to lie on your tax forms or just avoid filing them altogether. Both of these actions can get you into trouble with the IRS. First, you might have to face an audit. If there is a reason to believe that your actions were purposeful attempts to defraud the government, you might also face criminal charges.
Tax fraud, tax evasion and other similar charges can lead to time in prison. If you are facing any of these accusations, you need to take time think about how you are going to handle the matter. You might have some options that you didn’t think of right off the bat. We can help you to determine what paths might be possible in your case. You shouldn’t try to handle these cases alone. We are here to work with you.