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Understanding the Potential Danger of a Tax Fraud Charge

White collar crimes are illegal acts done without any violence or threat of force. The purpose of the crimes is financial only. There are numerous examples of this type of criminal activity including embezzlement, bank or mortgage fraud and even campaign violations. One of the most common white-collar charges is tax fraud. Those accused of income tax fraud can face severe penalties and even time in jail. The risks are too high for people to attempt to clear their name on their own. A defense attorney is a necessity.

Intentional Versus Mistake

The American taxpayer does not always understand all the tax laws, remember to include all the documents with their tax forms or always have the money to pay their bill on time. The federal government considers these behaviors to be negligence and not fraud. There are still potential financial penalties involved, but the IRS is usually willing to negotiate a payment agreement and there is no risk of incarceration.

Tax fraud is a willful attempt to withhold tax revenue from the government. Intentionally not reporting income, hiding certain financial deals or money laundering are all viewed much more severely by law enforcement than mistakes or misunderstanding the law.

Charge for Felony

There are a lot of potentially serious penalties when someone is charged with tax fraud. It is always advisable to hire a Philadelphia Criminal Defense Attorney for Tax Fraud charges. Evading taxes or giving false statements to the government are both felonies. The potential punishment could be up to five years imprisonment and fines of up to $250,000 for individuals or $500,000 for corporations, depending on the type of crime.

Punishment for Misdemeanor

Refusal to submit tax returns or to supply the IRS with information is a misdemeanor. The penalties are less severe, but there is still the potential for a large fine (up to $100,000 for individuals) and a year in prison. The details of the case determine if the individual is considered guilty of negligence or fraud. For examples, willfully refusing to pay a tax bill is fraud, but being unable to pay the bill is negligence.

The law regarding tax fraud is often as complicated as the tax laws themselves. To avoid additional complications, it is advisable that everyone has legal assistance while dealing with this type of matter. Visit www.hopelefeber.com to learn more about how a tax fraud attorney can help. Schedule a consultation to get advice and to review a personal or business-related charge.
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